Solar Panel Cost Guide in Derby, VT (2024 Update)
- Derby Solar Installation Cost: $15,511
- 25-Year Savings: $25,340
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Derby
See how much it might cost to switch to solar power in Derby.
The average cost of a solar panel system in Derby is 4 per watt.To cover the typical energy needs of the average home in Derby, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,511, or $22,181 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.Many homeowners find going solar is a sound investment. The average homeowner in Derby can save about $24,000 on their power bills over 20 years.
To receive a free quote from a pre-vetted solar installer in Derby, you can click the button below.
Solar savings over time in Derby
| Year | Return on Investment |
|---|---|
| 1 years | $-14,179 |
| 3 years | $-11,516 |
| 5 years | $-8,853 |
| 7 years | $-6,190 |
| 9 years | $-3,527 |
| 11 years | $-863 |
| 13 years | $1,800 |
| 15 years | $4,463 |
| 17 years | $7,126 |
| 19 years | $9,789 |
| 21 years | $12,452 |
| 23 years | $15,115 |
| 25 years | $17,778 |
Top Solar Installers in Derby
When switching to solar energy, many homeowners choose to go with a solar installer since putting up solar panels yourself can be a time-consuming project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Derby
Factors that Affect Solar Panel Costs in Derby
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Derby: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,850.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Derby, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Most solar installers in Derby have solar loans, which reduce your upfront costs of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence the cost. Derby’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.00 | $16,817 | $21,654 | 10.9 years |
| 8 kW | $3.93 | $21,991 | $29,303 | 10.7 years |
| 10 kW | $3.85 | $26,950 | $37,168 | 10.5 years |
| 12 kW | $3.77 | $31,693 | $45,249 | 10.3 years |
| 14 kW | $3.70 | $36,221 | $53,545 | 10.1 years |
| 16 kW | $3.62 | $40,533 | $62,057 | 9.9 years |
| 18 kW | $3.54 | $44,629 | $70,784 | 9.7 years |
| 20 kW | $3.47 | $48,510 | $79,727 | 9.5 years |
How to Save on Solar Panels
There are a lot of companies available in Derby, 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:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Derby, VT Solar Cost FAQs
What is the average cost of installing solar panels in Derby?
The average cost of solar panels in Derby is about $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Derby?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Derby is currently $318,434, so you could be looking at a value of about $13,056 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Derby is a rewarding investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know 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 household 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.