Solar Panel Cost Guide in Salem, CT (2024 Update)
- Salem Solar Installation Cost: $11,856
- 25-Year Savings: $18,939
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Salem
We go over average solar pricing in Salem.
The national average cost of solar panels is $2.66 per watt, but in Salem it’s 4 per watt.Since a 4.5-kW system is needed to cover the energy usage of a typical home in Salem, the average price of going solar will be about $11,856 after claiming the federal solar tax credit of 0.
These figures are only estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you choose to go with.Even with the significant initial cost, the average Salem homeowner can save around $23,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-6,324 |
| 5 years | $-2,636 |
| 7 years | $1,052 |
| 9 years | $4,740 |
| 11 years | $8,428 |
| 13 years | $12,116 |
| 15 years | $15,804 |
| 17 years | $19,492 |
| 19 years | $23,180 |
| 21 years | $26,868 |
| 23 years | $30,556 |
| 25 years | $34,244 |
Top Solar Installers in Salem
When switching to solar energy, many homeowners choose to go with a solar company since handling can be a difficult project. Plus, if you’d like to maximize your investment in solar, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
If you're on the hunt for a solar company in Salem, we've organized a list of our top suggestions here:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Salem
Factors that Affect Solar Panel Costs in Salem
Although the average cost of a solar system in Salem is $11,856, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,750.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Salem, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Salem homeowners decide to finance their solar panel systems to make going solar more affordable.Even though solar loans make going solar 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 avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much it costs. Salem’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into your budget.
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 | $20,539 | 11.1 years |
| 8 kW | $3.83 | $21,420 | $27,805 | 10.9 years |
| 10 kW | $3.75 | $26,250 | $35,282 | 10.7 years |
| 12 kW | $3.67 | $30,870 | $42,968 | 10.5 years |
| 14 kW | $3.60 | $35,280 | $50,865 | 10.2 years |
| 16 kW | $3.52 | $39,480 | $58,971 | 10.0 years |
| 18 kW | $3.45 | $43,470 | $67,287 | 9.8 years |
| 20 kW | $3.38 | $47,250 | $75,814 | 9.6 years |
How to Save on Solar Panels
There are a lot of 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: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: If you’re worried about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Salem, CT Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
The average cost of solar panels in Salem is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual 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.
Are solar panels free in Salem?
You can’t get solar panels for free in Salem. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Salem?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
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 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 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.