Solar Panel Cost Guide in Sherman, CT (2024 Update)
- Sherman Solar Installation Cost: $11,749
- 25-Year Savings: $18,247
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Sherman
Find out how much it might cost to make the switch to solar in Sherman.
Although the national average of solar panels is $2.66 per watt, solar panels in Sherman typically cost about 4.The average Sherman homeowner needs a 4.5-kilowatt system, which would cost about $11,749 with the federal tax credit, or $16,801 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Sherman based on a few factors, such as the kind of solar panels you choose and the solar company you hire.Many homeowners find going solar is a solid investment. The average homeowner in Sherman can save around $23,000 on their energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Sherman
| Year | Return on Investment |
|---|---|
| 1 years | $-9,905 |
| 3 years | $-6,217 |
| 5 years | $-2,529 |
| 7 years | $1,159 |
| 9 years | $4,847 |
| 11 years | $8,535 |
| 13 years | $12,223 |
| 15 years | $15,911 |
| 17 years | $19,599 |
| 19 years | $23,287 |
| 21 years | $26,975 |
| 23 years | $30,663 |
| 25 years | $34,351 |
Top Solar Installers in Sherman
Putting up solar panels yourself can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Sherman
Factors that Affect Solar Panel Costs in Sherman
Although the average cost of a solar system in Sherman is $11,749, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Sherman, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $3,750 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Sherman, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Sherman homeowners decide to finance their solar panel systems to offset upfront costs.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Sherman is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in Sherman are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $3.90 | $16,380 | $19,840 | 11.3 years |
| 8 kW | $3.83 | $21,420 | $26,874 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $34,117 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,571 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $49,234 | 10.4 years |
| 16 kW | $3.52 | $39,480 | $57,108 | 10.2 years |
| 18 kW | $3.45 | $43,470 | $65,191 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $73,485 | 9.8 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Warranties that cover 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.
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 Sherman, CT Solar Cost FAQs
How much does it cost to install solar panels in Sherman?
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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Sherman?
A solar panel system isn’t free in Sherman, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Sherman?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.