Solar Panel Cost Guide in Burlington, VT (2023 Update)
- Burlington Solar Installation Cost: $11,490
- 25-Year Savings: $20,243
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Burlington
Let's have a look at the average cost of solar panels in Burlington.
The average cost of solar panels in Burlington is 2.87 per watt. Using this figure, a typical 5.7-kW system would cost about $11,491 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you want to go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Burlington see about $21,000 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 Burlington
| Year | Return on Investment |
|---|---|
| 1 years | $-10,307 |
| 3 years | $-7,940 |
| 5 years | $-5,573 |
| 7 years | $-3,206 |
| 9 years | $-840 |
| 11 years | $1,527 |
| 13 years | $3,894 |
| 15 years | $6,261 |
| 17 years | $8,627 |
| 19 years | $10,994 |
| 21 years | $13,361 |
| 23 years | $15,728 |
| 25 years | $18,094 |
Top Solar Installers in Burlington
Many homeowners decide to hire a solar installer since installing solar panels on your own can be time-consuming. Plus, if you aren't sure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Burlington
Factors that Affect Solar Panel Costs in Burlington
For many Burlington homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Burlington, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,870 per kilowatt in Burlington. There are several different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Burlington have solar loans, which reduce your upfront costs of installing solar. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Burlington is the company you choose to install your PV system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Burlington have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $2.98 | $12,536 | $20,754 | 9.4 years |
| 8 kW | $2.93 | $16,393 | $27,994 | 9.2 years |
| 10 kW | $2.87 | $20,090 | $35,394 | 9.1 years |
| 12 kW | $2.81 | $23,626 | $42,955 | 8.9 years |
| 14 kW | $2.76 | $27,001 | $50,676 | 8.7 years |
| 16 kW | $2.70 | $30,215 | $58,559 | 8.5 years |
| 18 kW | $2.64 | $33,269 | $66,602 | 8.3 years |
| 20 kW | $2.58 | $36,162 | $74,806 | 8.1 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, such as:
- Contract: Review the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Different companies have various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Burlington, VT Solar Cost FAQs
How much does it cost to install solar panels in Burlington?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,350 for a 5-kW system and $28,700 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Burlington?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.
How will solar panels impact the value of my home?
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 Burlington is currently $277,956, so you can look forward to a value of about $11,396 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Burlington is a rewarding investment.
How often do you have to replace solar panels?
Although 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 choose to 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.