Solar Panel Cost Guide in Storrs, CT (2023 Update)
- Storrs Solar Installation Cost: $9,192
- 25-Year Savings: $17,827
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Storrs
Find out what the average cost of solar panel installation is in Storrs.
The national average cost of solar panels is $2.66 per watt, but in Storrs it's 2.8 per watt. Since a 4.7-kW system is needed to cover the energy consumption of a typical home in Storrs, the average price of going solar will be about $9,192 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Storrs homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Storrs see about $22,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a personalized quote.
Solar savings over time in Storrs
| Year | Return on Investment |
|---|---|
| 1 years | $-8,112 |
| 3 years | $-5,950 |
| 5 years | $-3,789 |
| 7 years | $-1,627 |
| 9 years | $535 |
| 11 years | $2,696 |
| 13 years | $4,858 |
| 15 years | $7,019 |
| 17 years | $9,181 |
| 19 years | $11,342 |
| 21 years | $13,504 |
| 23 years | $15,666 |
| 25 years | $17,827 |
Top Solar Installers in Storrs
Although you can install solar panels on your own, it requires extra time and knowledge. That's why most people choose to go with a solar panel installer. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you'd like to make the switch to solar but still aren't sure which solar system company to go with, here are our suggestions for providers nearby:
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 Storrs
Factors that Affect Solar Panel Costs in Storrs
Though the average cost of a solar system in Storrs is $9,192, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels 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 with better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,800. The type of solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Storrs average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your total costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Storrs is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services at different costs. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $22,306 | 8.9 years |
| 8 kW | $2.86 | $15,994 | $30,055 | 8.7 years |
| 10 kW | $2.80 | $19,600 | $37,961 | 8.5 years |
| 12 kW | $2.74 | $23,050 | $46,023 | 8.3 years |
| 14 kW | $2.69 | $26,342 | $54,243 | 8.2 years |
| 16 kW | $2.63 | $29,478 | $62,619 | 8.0 years |
| 18 kW | $2.58 | $32,458 | $71,152 | 7.8 years |
| 20 kW | $2.52 | $35,280 | $79,842 | 7.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: If you're worried about the durability of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
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 Storrs, CT Solar Cost FAQs
What is the average cost of installing solar panels in Storrs?
The average cost of solar panels in Storrs is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Storrs?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 level 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.