Solar Panel Cost Guide in Wolcott, CT (2024 Update)
- Wolcott Solar Installation Cost: $11,885
- 25-Year Savings: $18,146
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Wolcott
Find out what the average cost of installing solar panels is in Wolcott.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wolcott, the typical cost of a solar system is 4 per watt.The average Wolcott homeowner needs a 4.5-kilowatt system, which would cost about $11,885 with the federal tax credit, or $16,996 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more.With average savings of about $23,000 on energy bills over 20 years, many homeowners in Wolcott find going solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Wolcott that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wolcott
| Year | Return on Investment |
|---|---|
| 1 years | $-10,041 |
| 3 years | $-6,353 |
| 5 years | $-2,665 |
| 7 years | $1,023 |
| 9 years | $4,711 |
| 11 years | $8,399 |
| 13 years | $12,087 |
| 15 years | $15,775 |
| 17 years | $19,463 |
| 19 years | $23,151 |
| 21 years | $26,839 |
| 23 years | $30,527 |
| 25 years | $34,215 |
Top Solar Installers in Wolcott
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using an installer can make switching to solar power much easier. Another good thing about choosing a reliable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you're on the hunt for a solar company in Wolcott, the EcoWatch team has compiled a list of our top suggestions here:
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 Wolcott
Factors that Affect Solar Panel Costs in Wolcott
For many Wolcott homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Wolcott, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,750.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Wolcott, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Wolcott, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $19,427 | 11.4 years |
| 8 kW | $3.83 | $21,420 | $26,323 | 11.2 years |
| 10 kW | $3.75 | $26,250 | $33,429 | 11.0 years |
| 12 kW | $3.67 | $30,870 | $40,745 | 10.8 years |
| 14 kW | $3.60 | $35,280 | $48,270 | 10.6 years |
| 16 kW | $3.52 | $39,480 | $56,006 | 10.3 years |
| 18 kW | $3.45 | $43,470 | $63,952 | 10.1 years |
| 20 kW | $3.38 | $47,250 | $72,108 | 9.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 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 $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.