Solar Panel Cost Guide in Norwich, NY (Mar 2023)
- Norwich Solar Installation Cost: $9,602
- 25-Year Savings: $5,198
- Payback Period: 16.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Norwich
Find out what the average cost of installing solar panels is in Norwich.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Norwich, the typical cost of solar panels is 2.95 per watt. Using this figure, a typical 4.7-kW system would cost about $9,602 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will look different based on your specific situation and what company you choose to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $12,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Norwich
| Year | Return on Investment |
|---|---|
| 1 years | $-9,010 |
| 3 years | $-7,826 |
| 5 years | $-6,642 |
| 7 years | $-5,458 |
| 9 years | $-4,274 |
| 11 years | $-3,090 |
| 13 years | $-1,906 |
| 15 years | $-722 |
| 17 years | $462 |
| 19 years | $1,646 |
| 21 years | $2,830 |
| 23 years | $4,014 |
| 25 years | $5,198 |
Top Solar Installers in Norwich
Many homeowners choose to use a solar panel company since trying to install solar panels on your own can be a labor-intensive endeavor. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Norwich
Factors that Affect Solar Panel Costs in Norwich
Although the average cost of a solar system in Norwich is $9,602, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,950. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Norwich, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Norwich to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Norwich know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $3.07 | $12,886 | $6,225 | 16.9 years |
| 8 kW | $3.01 | $16,850 | $8,630 | 16.5 years |
| 10 kW | $2.95 | $20,650 | $11,201 | 16.2 years |
| 12 kW | $2.89 | $24,284 | $13,937 | 15.9 years |
| 14 kW | $2.83 | $27,754 | $16,838 | 15.6 years |
| 16 kW | $2.77 | $31,058 | $19,904 | 15.2 years |
| 18 kW | $2.71 | $34,196 | $23,135 | 14.9 years |
| 20 kW | $2.66 | $37,170 | $26,532 | 14.6 years |
How to Save on Solar Panels
There are numerous companies available in Norwich, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While 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 make sure you peruse their list of offerings before deciding.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Norwich, NY Solar Cost FAQs
How much does it cost to install solar panels in Norwich?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Norwich?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get between 20 and 35 panels to cover 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.