Solar Panel Cost Guide in Stamford, CT (Aug 2022)
- Stamford Solar Installation Cost: $9,283
- 25-Year Savings: $17,737
- Payback Period: 8.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated 7/19/2022
Why you can trust EcoWatch
Average Cost of Solar Panels in Stamford
Let's have a look at the average cost of solar panels in Stamford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Stamford, the average cost of solar panels is $3 per watt. To cover the typical energy usage of the average home in Stamford, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $9,283, or $6,869 after the federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Stamford depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. With typical savings of about $23,000 on energy bills over 20 years, many homeowners in Stamford find investing in solar can pay off big.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Stamford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,202 |
| 3 years | $-6,040 |
| 5 years | $-3,879 |
| 7 years | $-1,717 |
| 9 years | $444 |
| 11 years | $2,606 |
| 13 years | $4,768 |
| 15 years | $6,929 |
| 17 years | $9,091 |
| 19 years | $11,252 |
| 21 years | $13,414 |
| 23 years | $15,575 |
| 25 years | $17,737 |
Top Solar Installers in Stamford
Although it's possible to install solar panels yourself, it requires extra labor and expertise. That's why the majority of homeowners choose to go with a solar panel installer. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
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 $9,283, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment Size
The size of the solar system you need to offset your energy usage is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,800. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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, more efficient panels could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the Stamford average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Stamford homeowners opt to finance their solar panel systems to make paying for solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,929 | $23,291 | 8.9 years |
| 8 kW | $2.86 | $16,908 | $31,386 | 8.8 years |
| 10 kW | $2.80 | $20,720 | $39,647 | 8.6 years |
| 12 kW | $2.74 | $24,367 | $48,074 | 8.4 years |
| 14 kW | $2.69 | $27,848 | $56,667 | 8.2 years |
| 16 kW | $2.63 | $31,163 | $65,425 | 8.1 years |
| 18 kW | $2.58 | $34,312 | $74,349 | 7.9 years |
| 20 kW | $2.52 | $37,296 | $83,439 | 7.7 years |
Solar Incentives in Stamford
| 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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which company you should choose, since different companies have different panels.
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?
The average cost of solar panels in Stamford is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration 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.
Can you sell solar power back to the grid in Stamford?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.
