Solar Panel Cost Guide in Sherman, CT (2023 Update)
- Sherman Solar Installation Cost: $8,781
- 25-Year Savings: $18,239
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Sherman
We break down average solar pricing in Sherman.
In Sherman, solar panels cost about 2.8 per watt on average. To account for the typical energy needs of the average home in Sherman, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,781, or $12,557 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Sherman homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant upfront cost, the average Sherman homeowner can save about $23,000 on their energy bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Sherman
| Year | Return on Investment |
|---|---|
| 1 years | $-7,700 |
| 3 years | $-5,538 |
| 5 years | $-3,377 |
| 7 years | $-1,215 |
| 9 years | $946 |
| 11 years | $3,108 |
| 13 years | $5,269 |
| 15 years | $7,431 |
| 17 years | $9,592 |
| 19 years | $11,754 |
| 21 years | $13,916 |
| 23 years | $16,077 |
| 25 years | $18,239 |
Top Solar Installers in Sherman
Although it's possible to install solar panels yourself, it takes extra labor and knowledge. That's why most homeowners choose to hire a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for your home.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Sherman
Factors that Affect Solar Panel Costs in Sherman
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Sherman: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,800 per kilowatt in Sherman. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Sherman average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Sherman, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a part in determining your pricing. Sherman's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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
Since the brand of solar panels and the company you choose greatly impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Different companies have various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Sherman, CT Solar Cost FAQs
How much does it cost to install solar panels in Sherman?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Sherman?
Solar panels aren't free in Sherman, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Sherman?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.