Solar Panel Cost Guide in Essex Junction, VT (2023 Update)
- Essex Junction Solar Installation Cost: $11,491
- 25-Year Savings: $23,839
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Essex Junction
Find out how much it might cost to switch to solar power in Essex Junction.
The national average cost of solar panels is $2.66 per watt, but in Essex Junction it's 2.87 per watt. The average solar panel system size in Essex Junction 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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary based on a few factors, such as what size system you need, your energy usage and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Essex Junction can save around $23,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar company in Essex Junction for a personalized estimate.
Solar savings over time in Essex Junction
| Year | Return on Investment |
|---|---|
| 1 years | $-10,078 |
| 3 years | $-7,252 |
| 5 years | $-4,425 |
| 7 years | $-1,599 |
| 9 years | $1,227 |
| 11 years | $4,054 |
| 13 years | $6,880 |
| 15 years | $9,707 |
| 17 years | $12,533 |
| 19 years | $15,359 |
| 21 years | $18,186 |
| 23 years | $21,012 |
| 25 years | $23,839 |
Top Solar Installers in Essex Junction
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make your swap to solar power much easier. The expertise that solar companies provide can be invaluable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar panel company to go with, here are our suggestions for providers in Essex Junction:
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 Essex Junction
Factors that Affect Solar Panel Costs in Essex Junction
Though the average cost of a solar system in Essex Junction is $11,491, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,870. The brand of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. 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 panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Essex Junction, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Essex Junction is the company you get to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services at different price points. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more 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 discount can bring their pricing lower to compete with bigger 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 | $24,528 | 8.5 years |
| 8 kW | $2.93 | $16,393 | $33,026 | 8.3 years |
| 10 kW | $2.87 | $20,090 | $41,684 | 8.1 years |
| 12 kW | $2.81 | $23,626 | $50,503 | 8.0 years |
| 14 kW | $2.76 | $27,001 | $59,483 | 7.8 years |
| 16 kW | $2.70 | $30,215 | $68,623 | 7.6 years |
| 18 kW | $2.64 | $33,269 | $77,924 | 7.5 years |
| 20 kW | $2.58 | $36,162 | $87,386 | 7.3 years |
How to Save on Solar Panels
The solar company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
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 Essex Junction, VT Solar Cost FAQs
What is the average cost of installing solar panels in Essex Junction?
This is a hard 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Essex Junction?
You can't get solar panels for free in Essex Junction. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Does Essex Junction have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Essex Junction?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can 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.