Solar Panel Cost Guide in Putnam, CT (2024 Update)
- Putnam Solar Installation Cost: $12,271
- 25-Year Savings: $17,857
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Putnam
We break down average solar pricing in Putnam.
In Putnam, solar panels cost about 4 per watt on average.The average Putnam homeowner needs a 4.7-kilowatt system, which would cost about $12,271 with the federal tax credit, or $17,548 before the 0 tax credit is applied.
These figures are just averages, and the cost of going solar for you will look different based on the amount of energy your home requires and what company you want to go with.But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Putnam
| Year | Return on Investment |
|---|---|
| 1 years | $-10,427 |
| 3 years | $-6,739 |
| 5 years | $-3,051 |
| 7 years | $637 |
| 9 years | $4,325 |
| 11 years | $8,013 |
| 13 years | $11,701 |
| 15 years | $15,389 |
| 17 years | $19,077 |
| 19 years | $22,765 |
| 21 years | $26,453 |
| 23 years | $30,141 |
| 25 years | $33,829 |
Top Solar Installers in Putnam
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make your switch to solar power much easier. Plus, if you’re unsure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar installer in Putnam, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Putnam
Factors that Affect Solar Panel Costs in Putnam
The cost of installing a solar system in Putnam can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,750 per kilowatt in Putnam.The brand of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact how much it costs. Putnam’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.90 | $16,380 | $18,301 | 11.8 years |
| 8 kW | $3.83 | $21,420 | $24,821 | 11.6 years |
| 10 kW | $3.75 | $26,250 | $31,551 | 11.4 years |
| 12 kW | $3.67 | $30,870 | $38,491 | 11.1 years |
| 14 kW | $3.60 | $35,280 | $45,641 | 10.9 years |
| 16 kW | $3.52 | $39,480 | $53,001 | 10.7 years |
| 18 kW | $3.45 | $43,470 | $60,572 | 10.4 years |
| 20 kW | $3.38 | $47,250 | $68,352 | 10.2 years |
How to Save on Solar Panels
There are a large number of companies available in Putnam, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Putnam, CT Solar Cost FAQs
How much does it cost to install solar panels in Putnam?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Putnam?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,156.02 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.