Solar Panel Cost Guide in Winsted, CT (2023 Update)
- Winsted Solar Installation Cost: $9,192
- 25-Year Savings: $17,827
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Winsted
Here's how much it might cost to make the switch to solar in Winsted.
The average cost of a solar panel system in Winsted is 2.8 per watt. To cover the typical energy usage of the average home in Winsted, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,192, or $13,145 before the federal solar tax credit of 30% 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 installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Despite the large upfront cost, the average Winsted homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Winsted for a custom estimate.
Solar savings over time in Winsted
| Year | Return on Investment |
|---|---|
| 1 years | $-8,112 |
| 3 years | $-5,950 |
| 5 years | $-3,789 |
| 7 years | $-1,627 |
| 9 years | $535 |
| 11 years | $2,696 |
| 13 years | $4,858 |
| 15 years | $7,019 |
| 17 years | $9,181 |
| 19 years | $11,342 |
| 21 years | $13,504 |
| 23 years | $15,666 |
| 25 years | $17,827 |
Top Solar Installers in Winsted
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be challenging. Another perk of utilizing a solar installer is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Winsted
Factors that Affect Solar Panel Costs in Winsted
There are a number of criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,800. The brand and kind of equipment you get 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 have a higher price tag 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 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
Many homeowners find the average cost of solar in Winsted to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Winsted, and each can charge varying amounts for labor and equipment. Additionally, some companies in Winsted are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $22,304 | 8.9 years |
| 8 kW | $2.86 | $15,994 | $30,052 | 8.7 years |
| 10 kW | $2.80 | $19,600 | $37,957 | 8.5 years |
| 12 kW | $2.74 | $23,050 | $46,019 | 8.3 years |
| 14 kW | $2.69 | $26,342 | $54,238 | 8.2 years |
| 16 kW | $2.63 | $29,478 | $62,614 | 8.0 years |
| 18 kW | $2.58 | $32,458 | $71,146 | 7.8 years |
| 20 kW | $2.52 | $35,280 | $79,835 | 7.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract well 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 in business for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: If you're worried about the durability of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The model of solar panel you want to get plays a role in which company you should go with, since different companies have access to different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Winsted, CT Solar Cost FAQs
How much does it cost to install solar panels in Winsted?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.