Solar Panel Cost Guide in Suffield, CT (2024 Update)
- Suffield Solar Installation Cost: $12,323
- 25-Year Savings: $17,819
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Suffield
See how much it might cost to make the switch to solar in Suffield.
The national average cost of solar panels is $2.66 per watt, but in Suffield it’s 4 per watt.To account for the typical energy needs of the average home in Suffield, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,323, or $17,622 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $22,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Suffield
Year | Return on Investment |
---|---|
1 years | $-10,479 |
3 years | $-6,791 |
5 years | $-3,103 |
7 years | $585 |
9 years | $4,273 |
11 years | $7,961 |
13 years | $11,649 |
15 years | $15,337 |
17 years | $19,025 |
19 years | $22,713 |
21 years | $26,401 |
23 years | $30,089 |
25 years | $33,777 |
Top Solar Installers in Suffield
Although you can install solar panels by yourself, it requires extra labor and expertise. That's why most people choose to hire a solar panel installer. Another perk of utilizing a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you're on the hunt for a solar installer in Suffield, we've compiled a list of our top suggestions here:
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 Suffield
Factors that Affect Solar Panel Costs in Suffield
There are several factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 $3,750.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Suffield is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also is within your budget.
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 | $18,154 | 11.9 years |
8 kW | $3.83 | $21,420 | $24,626 | 11.6 years |
10 kW | $3.75 | $26,250 | $31,307 | 11.4 years |
12 kW | $3.67 | $30,870 | $38,198 | 11.2 years |
14 kW | $3.60 | $35,280 | $45,300 | 10.9 years |
16 kW | $3.52 | $39,480 | $52,611 | 10.7 years |
18 kW | $3.45 | $43,470 | $60,133 | 10.5 years |
20 kW | $3.38 | $47,250 | $67,864 | 10.3 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to install plays a part in which installer you should opt for, since different companies offer different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
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 Suffield, CT Solar Cost FAQs
How much does it cost to install solar panels in Suffield?
The average cost of solar panels in Suffield is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Suffield?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 cover 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.