Solar Panel Cost Guide in Thompsonville, CT (2024 Update)
- Thompsonville 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 Thompsonville
Let’s have a look at the average cost of solar in Thompsonville.
The national average cost of solar panels is $2.66 per watt, but in Thompsonville it’s 4 per watt.Using this figure, a typical 4.7-kW system would cost about $12,323 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Thompsonville 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.Despite the high upfront cost, the average Thompsonville homeowner can save about $22,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Thompsonville
| 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 Thompsonville
Installing solar panels by yourself can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.
If you're on the hunt for a solar company in Thompsonville, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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 Thompsonville
Factors that Affect Solar Panel Costs in Thompsonville
There are many factors that can determine 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
When it comes to estimating the cost of solar panels in Thompsonville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,750 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Thompsonville average.
Solar Financing Terms
Many homeowners find the average cost of solar in Thompsonville to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Thompsonville, and each can charge different amounts for labor and equipment.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 discount 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Reputation: Make sure your solar installer 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 EcoWatch.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
Best National Provider
SunPower
- 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
- 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 Thompsonville, CT Solar Cost FAQs
What is the average cost of installing solar panels in Thompsonville?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Thompsonville?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Does Thompsonville have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Thompsonville?
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 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.