Solar Panel Cost Guide in Wilton, NY (2023 Update)
- Wilton Solar Installation Cost: $9,251
- 25-Year Savings: $6,487
- Payback Period: 14.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wilton
Here's how much it might cost to make the switch to solar in Wilton.
While the national average of solar panels is $2.66 per watt, solar panels in Wilton typically cost around 2.95. The average solar panel system size in Wilton is around 4.5 kilowatts, meaning a cost of about $9,251 for a solar installation, or $13,229 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 panel system could cost. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. Even with the significant upfront cost, the average Wilton homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Wilton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,622 |
| 3 years | $-7,363 |
| 5 years | $-6,104 |
| 7 years | $-4,845 |
| 9 years | $-3,586 |
| 11 years | $-2,326 |
| 13 years | $-1,067 |
| 15 years | $192 |
| 17 years | $1,451 |
| 19 years | $2,710 |
| 21 years | $3,969 |
| 23 years | $5,228 |
| 25 years | $6,487 |
Top Solar Installers in Wilton
Many homeowners decide to use a solar panel installer since trying to install solar panels yourself can be a lot of work. Companies can also have access to quality options of the best solar panels and help you pick which one will be best for your family.
If you'd like to switch to solar energy but still aren't certain which solar panel company to go with, here are our suggestions for providers in Wilton:
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 Wilton
Factors that Affect Solar Panel Costs in Wilton
For many Wilton homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Wilton, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Wilton, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Wilton is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Wilton have more knowledge 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 | $8,173 | 15.3 years |
| 8 kW | $3.01 | $16,850 | $11,228 | 15.0 years |
| 10 kW | $2.95 | $20,650 | $14,448 | 14.7 years |
| 12 kW | $2.89 | $24,284 | $17,833 | 14.4 years |
| 14 kW | $2.83 | $27,754 | $21,383 | 14.1 years |
| 16 kW | $2.77 | $31,058 | $25,099 | 13.8 years |
| 18 kW | $2.71 | $34,196 | $28,980 | 13.5 years |
| 20 kW | $2.66 | $37,170 | $33,026 | 13.2 years |
How to Save on Solar Panels
There are numerous companies available in Wilton, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Wilton, NY Solar Cost FAQs
What is the average cost of installing solar panels in Wilton?
This is a difficult question to answer precisely, because the cost depends on many 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. You can expect to pay more 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 less efficient solar panels.
Is it better to lease or buy solar panels in Wilton?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wilton is currently $315,579, so you can expect a value of about $12,939 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wilton is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 buy 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.