Solar Panel Cost Guide in Riverside, CT (Aug 2022)

  • Riverside Solar Installation Cost: $9,283
  • 25-Year Savings: $17,737
  • Payback Period: 8.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Riverside

Find out what the average cost of installing solar panels is in Riverside.

In Riverside, solar panels cost about $3 per watt on average. Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Riverside, the average price of going solar will be about $9,283 before claiming the federal solar tax credit.

How much you pay can go higher or lower than the average in Riverside based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find installing a solar system is a sound investment. The average homeowner in Riverside can save about $23,000 on their power bills over 20 years.

To get a free estimate from a top solar installation company in Riverside, you can click the button below.

Solar savings over time in Riverside

Year Return on Investment
1 years $-8,202
3 years $-6,040
5 years $-3,879
7 years $-1,717
9 years $444
11 years $2,606
13 years $4,768
15 years $6,929
17 years $9,091
19 years $11,252
21 years $13,414
23 years $15,575
25 years $17,737

Top Solar Installers in Riverside

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar company can make converting to solar much easier. Another good thing about going with a top solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.

You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Riverside:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Riverside

Factors that Affect Solar Panel Costs in Riverside

There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

System size is one of the largest factors that influences the overall cost of installing solar panels. Because of that, 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 brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Riverside, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Riverside, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $12,929 $23,291 8.9 years
8 kW $2.86 $16,908 $31,386 8.8 years
10 kW $2.80 $20,720 $39,647 8.6 years
12 kW $2.74 $24,367 $48,074 8.4 years
14 kW $2.69 $27,848 $56,667 8.2 years
16 kW $2.63 $31,163 $65,425 8.1 years
18 kW $2.58 $34,312 $74,349 7.9 years
20 kW $2.52 $37,296 $83,439 7.7 years

Solar Incentives in Riverside

Name Local Option - Residential Sustainable Energy Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Eversource - Small ZREC Tariff
Incentive Amount $100.74 per REC (for Year 7 round of solicitation)Tariff for Small ZREC determined through PURA
Website Visit here
More Info Click here

Name Energy Conservation Loan
Website Visit here
More Info Click here

Name Connecticut Green Energy Building Solutions
Website Visit here
More Info Click here

Name Sales and Use Tax Exemption for Solar and Geothermal Systems
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% exemption for renewable energy property
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
Incentive Amount Local Option
More Info Click here

Name Residential Solar Investment Program
Incentive Amount Customer-owned (EPBB):
Up to 10 kW PTC: $0.358/W
10 to 20 kW PTC: $0.207/W
Incentive is reduced accordingly for Design Factors below 75%. Minimum design factor is 60%.
Third-Party-Owned (PBI):
Up to 20 kW PTC: $0.03/kWh for 6 years
Minimum Design Factor 60%
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar company you opt for will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:

  • Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
  • Solar Panel Brands: The brand of solar panel you want to install plays a part in which company you should go with, since different companies have different panels.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Riverside, CT Solar Cost FAQs

How much does it cost to install solar panels in Riverside?

The average cost of solar panels in Riverside 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 like the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to think about when buying solar panels?

Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact how much my home is worth?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Riverside is currently $1,490,202, so you could be looking at a value of about $61,098 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Riverside is a rewarding investment.

How long do solar panels last in Riverside?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.

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