Solar Panel Cost Guide in Ridgefield, CT (2023 Update)
- Ridgefield Solar Installation Cost: $8,773
- 25-Year Savings: $18,247
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ridgefield
Let's take a look at the average cost of solar in Ridgefield.
The national average cost of solar panels is $2.66 per watt, but in Ridgefield it's 2.8 per watt. To cover the typical energy usage of the average home in Ridgefield, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $8,781, or $12,557 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $23,000 over 20 years on energy bills.
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Solar savings over time in Ridgefield
| Year | Return on Investment |
|---|---|
| 1 years | $-8,683 |
| 3 years | $-8,502 |
| 5 years | $-8,322 |
| 7 years | $-8,142 |
| 9 years | $-7,962 |
| 11 years | $-7,782 |
| 13 years | $-7,602 |
| 15 years | $-7,422 |
| 17 years | $-7,241 |
| 19 years | $-7,061 |
| 21 years | $-6,881 |
| 23 years | $-6,701 |
| 25 years | $-6,521 |
Top Solar Installers in Ridgefield
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Ridgefield
Factors that Affect Solar Panel Costs in Ridgefield
The cost of installing a solar system in Ridgefield can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Ridgefield homeowners decide to finance their solar panel systems to make paying for solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Ridgefield, and each can charge different amounts for labor and equipment. Additionally, some companies in Ridgefield are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.91 | $12,230 | $23,990 | 8.4 years |
| 8 kW | $2.86 | $15,994 | $32,300 | 8.3 years |
| 10 kW | $2.80 | $19,600 | $40,767 | 8.1 years |
| 12 kW | $2.74 | $23,050 | $49,391 | 8.0 years |
| 14 kW | $2.69 | $26,342 | $58,172 | 7.8 years |
| 16 kW | $2.63 | $29,478 | $67,109 | 7.6 years |
| 18 kW | $2.58 | $32,458 | $76,204 | 7.5 years |
| 20 kW | $2.52 | $35,280 | $85,455 | 7.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you're concerned about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Ridgefield, CT Solar Cost FAQs
How much does it cost to install solar panels in Ridgefield?
The average cost of solar panels in Ridgefield is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Ridgefield?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.