Solar Panel Cost Guide in Derby, VT (2023 Update)
- Derby Solar Installation Cost: $11,572
- 25-Year Savings: $25,330
- Payback Period: 7.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Derby
Let's take a look at the average cost of solar in Derby.
The average cost of a solar system in Derby is 2.87 per watt. Since a 5.8-kW system is needed to cover the energy consumption of a typical home in Derby, the average price of going solar will be about $11,572 after claiming the federal solar tax credit of 30%.
The actual price you pay can go higher or lower than the average in Derby depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. With typical savings of about $24,000 on utility bills over 20 years, many homeowners in Derby find installing solar panels can be quite rewarding.
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 Derby
| Year | Return on Investment |
|---|---|
| 1 years | $-10,096 |
| 3 years | $-7,144 |
| 5 years | $-4,191 |
| 7 years | $-1,239 |
| 9 years | $1,713 |
| 11 years | $4,665 |
| 13 years | $7,617 |
| 15 years | $10,570 |
| 17 years | $13,522 |
| 19 years | $16,474 |
| 21 years | $19,426 |
| 23 years | $22,378 |
| 25 years | $25,330 |
Top Solar Installers in Derby
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make converting to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar system. 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 Derby
Factors that Affect Solar Panel Costs in Derby
The cost of installing a solar system in Derby can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,870. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 a small roof 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Derby homeowners choose to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Derby, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $25,935 | 8.1 years |
| 8 kW | $2.93 | $16,393 | $34,901 | 8.0 years |
| 10 kW | $2.87 | $20,090 | $44,028 | 7.8 years |
| 12 kW | $2.81 | $23,626 | $53,316 | 7.7 years |
| 14 kW | $2.76 | $27,001 | $62,765 | 7.5 years |
| 16 kW | $2.70 | $30,215 | $72,374 | 7.4 years |
| 18 kW | $2.64 | $33,269 | $82,144 | 7.2 years |
| 20 kW | $2.58 | $36,162 | $92,075 | 7.0 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project completion timeline.
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 $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Derby?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.