Solar Panel Cost Guide in Salem, CT (Sep 2022)

  • Salem Solar Installation Cost: $8,859
  • 25-Year Savings: $18,933
  • Payback Period: 8.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Salem

We break down average solar pricing in Salem.

In Salem, solar panels cost about $3 per watt on average. Since a 4.5-kW system is needed to cover the energy consumption of a typical home in Salem, the average price of going solar will be about $8,859 before claiming the federal solar tax credit of 30%.

These figures are just averages, and the cost of going solar for you may differ based on your specific situation and what company you want to go with. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $23,000 in savings on electricity bills over 20 years.

Click the button below to get connected to a top solar company in your area for a personalized quote.

Solar savings over time in Salem

Year Return on Investment
1 years $-7,748
3 years $-5,524
5 years $-3,301
7 years $-1,077
9 years $1,146
11 years $3,369
13 years $5,593
15 years $7,816
17 years $10,039
19 years $12,263
21 years $14,486
23 years $16,709
25 years $18,933

Top Solar Installers in Salem

When going solar, many homeowners prefer to use a solar installer since putting up solar panels yourself can be a challenging project. Plus, if you're not certain what brand of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:

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 Salem

Factors that Affect Solar Panel Costs in Salem

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Salem: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,800 per kilowatt in Salem. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over five to seven years on average. While solar loans make adopting solar energy more accessible for Salem homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Salem, and each can charge varying amounts for labor and equipment. Additionally, some companies in Salem know more about local solar incentives and can help you learn about 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 $24,689 8.3 years
8 kW $2.86 $15,994 $33,232 8.1 years
10 kW $2.80 $19,600 $41,932 8.0 years
12 kW $2.74 $23,050 $50,789 7.8 years
14 kW $2.69 $26,342 $59,802 7.6 years
16 kW $2.63 $29,478 $68,973 7.5 years
18 kW $2.58 $32,458 $78,300 7.3 years
20 kW $2.52 $35,280 $87,784 7.2 years

Solar Incentives in Salem

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

There are many companies available in Salem, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
  • Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.
  • Solar Panel Brands: The kind of solar panel you need to get plays a part in which company you should go with, since different companies have different panels.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.

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 Salem, CT Solar Cost FAQs

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

The average cost of solar panels in Salem is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider in addition to cost 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.

Does Salem have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Salem?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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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