Solar Panel Cost Guide in Pomfret, NY (2023 Update)
- Pomfret Solar Installation Cost: $9,582
- 25-Year Savings: $6,625
- Payback Period: 14.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pomfret
Here's how much it might cost to install solar panels in Pomfret.
While the national average of solar panels is $2.66 per watt, solar panels in Pomfret typically cost about 2.95. Using this figure, a typical 4.6-kW system would cost about $9,582 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $13,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Pomfret
| Year | Return on Investment |
|---|---|
| 1 years | $-8,933 |
| 3 years | $-7,637 |
| 5 years | $-6,340 |
| 7 years | $-5,044 |
| 9 years | $-3,747 |
| 11 years | $-2,451 |
| 13 years | $-1,154 |
| 15 years | $143 |
| 17 years | $1,439 |
| 19 years | $2,736 |
| 21 years | $4,032 |
| 23 years | $5,329 |
| 25 years | $6,625 |
Top Solar Installers in Pomfret
Many homeowners opt for a solar panel company since figuring out how to install solar panels on your own can be hard. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're on the hunt for a solar company in Pomfret, we've 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
See all of the solar companies in Pomfret
Factors that Affect Solar Panel Costs in Pomfret
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Pomfret: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Pomfret, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment 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 Pomfret to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a part in determining how much you pay. Pomfret's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Pomfret know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.07 | $12,886 | $8,083 | 15.4 years |
| 8 kW | $3.01 | $16,850 | $11,107 | 15.1 years |
| 10 kW | $2.95 | $20,650 | $14,297 | 14.8 years |
| 12 kW | $2.89 | $24,284 | $17,652 | 14.5 years |
| 14 kW | $2.83 | $27,754 | $21,172 | 14.2 years |
| 16 kW | $2.77 | $31,058 | $24,857 | 13.9 years |
| 18 kW | $2.71 | $34,196 | $28,708 | 13.6 years |
| 20 kW | $2.66 | $37,170 | $32,724 | 13.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Pomfret, NY Solar Cost FAQs
How much does it cost to install solar panels in Pomfret?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Pomfret?
You can't get solar panels for free in Pomfret. However, you may still be able to afford 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.
How will installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pomfret is currently $100,873, which means you could be looking at a value of about $4,136 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Pomfret is a fruitful investment.
How long do solar panels last in Pomfret?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.