Solar Panel Cost Guide in Stamford, CT (Oct 2022)
- Stamford Solar Installation Cost: $8,781
- 25-Year Savings: $18,239
- Payback Period: 8.1 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Stamford
Find out what the average cost of installing solar panels is in Stamford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Stamford, the typical cost of a solar system is $3 per watt. The average Stamford homeowner needs a 4.5-kilowatt system, which would cost about $8,781, or $6,498 after the federal solar tax credit of 30% is applied.
These figures are only averages, and the cost of going solar for you will most likely differ based on factors unique to your home and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $23,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Stamford for a quote for your home.
Solar savings over time in Stamford
| 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 Stamford
Although it's possible to install solar panels by yourself, it requires extra labor and know-how. Because of that, almost all homeowners choose a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for your family.
There are a number of 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
Best Technology
The Green Panel
- 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 Stamford
Factors that Affect Solar Panel Costs in Stamford
Although the average cost of solar panels in Stamford is $8,781, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment Size
When it comes to estimating the cost of a solar energy system in Stamford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,800 for each additional kilowatt you need. The brand and kind 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 come at a higher price 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 more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Stamford, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. Even though solar loans make adopting solar energy more accessible for Stamford homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 installer you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 |
Solar Incentives in Stamford
| Name | Sales and Use Tax Exemption for Solar and Geothermal Systems |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Residential Solar Investment Program |
| Website | Visit here |
| More Info | Click here |
| Name | Connecticut Green Energy Building Solutions |
| Incentive Amount | |
| Website | Visit here |
| More Info | Click here |
| Name | Smart-E loans |
| Incentive Amount | |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | Local Option |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| More Info | Click here |
| Name | Sales and Use Tax Exemption for Energy-Efficient Products |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | Energy Conservation Loan |
| Website | Visit here |
| More Info | Click here |
| Name | The United Illuminating Company - Small ZREC Tariff |
| Website | Visit here |
| More Info | Click here |
| Name | Eversource - Small ZREC Tariff |
| Website | Visit here |
| More Info | Click here |
| Name | (Electric and Gas) Residential Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Residential Sustainable Energy Program |
| Incentive Amount | Locally determined |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you care about the longevity of your solar system, verifying your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history 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
Best Technology
The Green Panel
- 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 Stamford, CT Solar Cost FAQs
What is the average cost of installing solar panels in Stamford?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Stamford?
You can't get solar panels for free in Stamford. 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 want to own your solar panels, you can finance them with a solar loan.
Does Stamford have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.
