Solar Panel Cost Guide in Waterbury, CT (Sep 2022)

  • Waterbury Solar Installation Cost: $8,879
  • 25-Year Savings: $18,141
  • Payback Period: 8.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Waterbury

Let's take a look at the average cost of solar panels in Waterbury.

The national average cost of solar panels is $2.66 per watt, but in Waterbury it's $3 per watt. Since a 4.5-kW system is needed to cover the energy usage of a typical home in Waterbury, the average price of going solar will be about $8,879 before claiming the federal solar tax credit of 30%.

The true price you pay can be above or below the average in Waterbury based on several factors, such as the type of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Waterbury can save around $23,000 on their energy bills over 20 years.

Click the button below to get connected to a reputable solar company in your area for a customized quote.

Solar savings over time in Waterbury

Year Return on Investment
1 years $-7,798
3 years $-5,636
5 years $-3,475
7 years $-1,313
9 years $848
11 years $3,010
13 years $5,171
15 years $7,333
17 years $9,494
19 years $11,656
21 years $13,818
23 years $15,979
25 years $18,141

Top Solar Installers in Waterbury

When switching to solar energy, many homeowners choose to go with a solar company since installing a solar system yourself can be a difficult project. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Waterbury:

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

The Green Panel

★★★★★
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 Waterbury

Factors that Affect Solar Panel Costs in Waterbury

There are many criteria that can affect your solar system 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 Size

System size is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar companies in Waterbury have solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Waterbury, and each can charge varying amounts for labor and equipment. Some companies 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 cost more. It's best to do some research and go with the company that has the products, warranties and services you want and also fits 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 $2.91 $12,230 $23,577 8.5 years
8 kW $2.86 $15,994 $31,750 8.4 years
10 kW $2.80 $19,600 $40,079 8.2 years
12 kW $2.74 $23,050 $48,565 8.0 years
14 kW $2.69 $26,342 $57,208 7.9 years
16 kW $2.63 $29,478 $66,008 7.7 years
18 kW $2.58 $32,458 $74,964 7.6 years
20 kW $2.52 $35,280 $84,078 7.4 years

Solar Incentives in Waterbury

Name Local Option - Residential Sustainable Energy Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Website Visit here

Name Eversource - Small ZREC Tariff
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
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
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the type of solar panels and the installation company you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
  • Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.

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

The Green Panel

★★★★★
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 Waterbury, CT Solar Cost FAQs

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

The average cost of solar panels in Waterbury 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 kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Waterbury?

You can't get solar panels for free in Waterbury. 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'd prefer to own your solar panels, you can finance them with a solar loan.

How will solar panels impact my home value?

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 Waterbury is currently $142,232, so you can expect about a value of about $5,832 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Waterbury is a rewarding investment.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 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.

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