Solar Panel Cost Guide in Thompson, CT (Nov 2022)

  • Thompson Solar Installation Cost: $9,153
  • 25-Year Savings: $17,866
  • Payback Period: 8.5 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Thompson

We go over average solar pricing in Thompson.

In Thompson, solar panels cost about $3 per watt on average. To cover the typical energy needs of the average home in Thompson, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,153, or $6,773 after the federal solar tax credit of 30% is applied.

These figures are just estimates, and how much solar costs for you will most likely vary based on factors unique to your home and what company you want to go with. With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Thompson find going solar can be quite rewarding.

Click the button below to get connected to a top solar panel company in your area for a custom quote.

Solar savings over time in Thompson

Year Return on Investment
1 years $-8,072
3 years $-5,911
5 years $-3,749
7 years $-1,588
9 years $574
11 years $2,735
13 years $4,897
15 years $7,058
17 years $9,220
19 years $11,382
21 years $13,543
23 years $15,705
25 years $17,866

Top Solar Installers in Thompson

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make converting to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for you.

If you're on the hunt for a solar installer in Thompson, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Thompson

Factors that Affect Solar Panel Costs in Thompson

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Thompson: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

The size of the system you need is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you want for your solar system can increase or decrease 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 a small roof 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

Most solar companies in Thompson have solar loans, which reduce your upfront costs of installing a solar system. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

Finally, the company you hire to install your solar panels can play a role in determining how much you pay. Thompson's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $22,450 8.8 years
8 kW $2.86 $15,994 $30,247 8.6 years
10 kW $2.80 $19,600 $38,201 8.5 years
12 kW $2.74 $23,050 $46,311 8.3 years
14 kW $2.69 $26,342 $54,579 8.1 years
16 kW $2.63 $29,478 $63,003 8.0 years
18 kW $2.58 $32,458 $71,584 7.8 years
20 kW $2.52 $35,280 $80,322 7.6 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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.
  • Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Thompson, CT Solar Cost FAQs

What is the average cost of installing solar panels in Thompson?

This is a hard question to answer exactly, 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Are solar panels free in Thompson?

You can't get solar panels for free in Thompson. 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.

How will having solar panels impact the value of my home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Thompson is currently $240,420, so you could be looking at a value of about $9,857 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Thompson is a fruitful investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and how much 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 install 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.

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