Solar Panel Cost Guide in Wolcott, CT (2023 Update)
- Wolcott Solar Installation Cost: $8,879
- 25-Year Savings: $18,141
- Payback Period: 8.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Wolcott
Find out what the average cost of solar panels are in Wolcott.
In Wolcott, solar panels cost about 2.8 per watt on average. Using this figure, a typical 4.5-kW system would cost about $8,879 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on factors unique to your home and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Wolcott can save about $23,000 on their energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wolcott
| 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 Wolcott
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar panel installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar system. 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 Wolcott
Factors that Affect Solar Panel Costs in Wolcott
There are many 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 performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,800 per kilowatt in Wolcott. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Wolcott to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Wolcott have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $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 |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, 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, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Wolcott, CT Solar Cost FAQs
How much does it cost to install solar panels in Wolcott?
The average cost of solar panels in Wolcott 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 type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Wolcott, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 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.