Solar Panel Cost Guide in Colchester, VT (2023 Update)
- Colchester Solar Installation Cost: $11,491
- 25-Year Savings: $22,209
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Colchester
Here's how much it might cost to install solar panels in Colchester.
In Colchester, solar panels cost about 2.87 per watt on average. The average solar panel system size in Colchester is around 5.7 kilowatts, meaning a cost of about $11,491 for a solar installation, or $16,432 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Colchester homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on energy bills.
To get a free estimate from a vetted solar company in Colchester, you can click the button below.
Solar savings over time in Colchester
| Year | Return on Investment |
|---|---|
| 1 years | $-10,143 |
| 3 years | $-7,447 |
| 5 years | $-4,751 |
| 7 years | $-2,055 |
| 9 years | $641 |
| 11 years | $3,337 |
| 13 years | $6,033 |
| 15 years | $8,729 |
| 17 years | $11,425 |
| 19 years | $14,121 |
| 21 years | $16,817 |
| 23 years | $19,513 |
| 25 years | $22,209 |
Top Solar Installers in Colchester
Many homeowners decide to use a solar installer since trying to install 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.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Colchester
Factors that Affect Solar Panel Costs in Colchester
For many Colchester homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Colchester, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Colchester, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,870 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Colchester to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's crucial to keep that in mind 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 estimate the cost of solar for your home or business in Colchester is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services at different costs. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $22,818 | 8.9 years |
| 8 kW | $2.93 | $16,393 | $30,746 | 8.7 years |
| 10 kW | $2.87 | $20,090 | $38,834 | 8.5 years |
| 12 kW | $2.81 | $23,626 | $47,083 | 8.4 years |
| 14 kW | $2.76 | $27,001 | $55,493 | 8.2 years |
| 16 kW | $2.70 | $30,215 | $64,063 | 8.0 years |
| 18 kW | $2.64 | $33,269 | $72,794 | 7.8 years |
| 20 kW | $2.58 | $36,162 | $81,686 | 7.7 years |
How to Save on Solar Panels
There are numerous companies available in Colchester, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you want to get plays a part in which company you should go with, since different companies have access to different panels.
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 Colchester, VT Solar Cost FAQs
How much does it cost to install solar panels in Colchester?
This is a difficult question to answer exactly, 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Colchester?
You can't get solar panels for free in Colchester. 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'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Colchester, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.