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

  • Waterford Solar Installation Cost: $8,859
  • 25-Year Savings: $18,933
  • Payback Period: 8.0 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 Waterford

Here's how much it might cost to install solar panels in Waterford.

The national average cost of solar panels is $2.66 per watt, but in Waterford it's $3 per watt. To cover the typical energy usage of the average home in Waterford, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $8,859, or $6,556 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy usage and what company you go with. With average savings of about $23,000 on energy bills over 20 years, many homeowners in Waterford find installing solar panels has a decent ROI.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Waterford

Year Return on Investment
1 years $-7,748
3 years $-5,524
5 years $-3,301
7 years $-1,077
9 years $1,146
11 years $3,369
13 years $5,593
15 years $7,816
17 years $10,039
19 years $12,263
21 years $14,486
23 years $16,709
25 years $18,933

Top Solar Installers in Waterford

Installing solar panels yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.

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

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 Waterford

Factors that Affect Solar Panel Costs in Waterford

For many Waterford homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Waterford, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar system you need to offset your energy usage is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,800. The brand and kind 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 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for solar panels in cash is out of reach, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The final key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Waterford, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.

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 $24,689 8.3 years
8 kW $2.86 $15,994 $33,232 8.1 years
10 kW $2.80 $19,600 $41,932 8.0 years
12 kW $2.74 $23,050 $50,789 7.8 years
14 kW $2.69 $26,342 $59,802 7.6 years
16 kW $2.63 $29,478 $68,973 7.5 years
18 kW $2.58 $32,458 $78,300 7.3 years
20 kW $2.52 $35,280 $87,784 7.2 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:

  • Installation Process: When making the switch to solar energy, 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 works and the completion timeline.
  • Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Solar Panel Brands: Different companies carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.

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 Waterford, CT Solar Cost FAQs

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

The average cost of solar panels in Waterford is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Waterford?

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

Can solar panels significantly reduce my power bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,230.64 per year.

How long do solar panels last in Waterford?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.

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