Solar Panel Cost Guide in Canaan, NH (2024 Update)
- Canaan Solar Installation Cost: $15,252
- 25-Year Savings: $16,283
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Canaan
See how much it might cost to switch to solar power in Canaan.
In Canaan, solar panels cost about 4 per watt on average.The average Canaan homeowner needs a 5.2-kilowatt system, which would cost about $15,252 with the federal tax credit, or $21,810 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the high upfront cost, the average Canaan homeowner can save about $20,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free quote from a highly rated solar company in Canaan, you can click the button below.
Solar savings over time in Canaan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,845 |
| 3 years | $-11,032 |
| 5 years | $-8,218 |
| 7 years | $-5,404 |
| 9 years | $-2,591 |
| 11 years | $223 |
| 13 years | $3,037 |
| 15 years | $5,850 |
| 17 years | $8,664 |
| 19 years | $11,478 |
| 21 years | $14,291 |
| 23 years | $17,105 |
| 25 years | $19,919 |
Top Solar Installers in Canaan
When going solar, many homeowners prefer to go with a solar installer since installing solar panels yourself can be a challenging project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar installer in Canaan, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Canaan
Factors that Affect Solar Panel Costs in Canaan
For many Canaan homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Canaan, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Canaan, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $4,220 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Canaan average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Canaan, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Canaan, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.The company’s size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better 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 lower 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 | $4.39 | $18,433 | $12,710 | 14.8 years |
| 8 kW | $4.30 | $24,105 | $17,420 | 14.5 years |
| 10 kW | $4.22 | $29,540 | $22,366 | 14.2 years |
| 12 kW | $4.14 | $34,739 | $27,548 | 13.9 years |
| 14 kW | $4.05 | $39,702 | $32,966 | 13.7 years |
| 16 kW | $3.97 | $44,428 | $38,621 | 13.4 years |
| 18 kW | $3.88 | $48,918 | $44,512 | 13.1 years |
| 20 kW | $3.80 | $53,172 | $50,639 | 12.8 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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Canaan, NH Solar Cost FAQs
How much does it cost to install solar panels in Canaan?
The average cost of solar panels in Canaan is about $21,100 for a 5-kW system and $42,200 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Canaan?
You can’t get solar panels for free in Canaan. 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 want 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 how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,038.11 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.