Solar Panel Cost Guide in Essex Junction, VT (2023 Update)
- Essex Junction Solar Installation Cost: $11,490
- 25-Year Savings: $23,840
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Essex Junction
See how much it might cost to switch to solar power in Essex Junction.
Although the national average of solar panels is $2.66 per watt, solar panels in Essex Junction typically cost about 2.87. The average Essex Junction homeowner needs a 5.7-kilowatt system, which would cost about $11,491 with the federal tax credit, or $16,432 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Essex Junction homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar power is worth paying. On average Essex Junction homeowners see about $23,000 in savings on energy 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 Essex Junction
| Year | Return on Investment |
|---|---|
| 1 years | $-10,129 |
| 3 years | $-7,407 |
| 5 years | $-4,685 |
| 7 years | $-1,964 |
| 9 years | $758 |
| 11 years | $3,480 |
| 13 years | $6,202 |
| 15 years | $8,923 |
| 17 years | $11,645 |
| 19 years | $14,367 |
| 21 years | $17,089 |
| 23 years | $19,810 |
| 25 years | $22,532 |
Top Solar Installers in Essex Junction
Installing solar panels by yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are various 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 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 actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Essex Junction homeowners opt to finance their solar panel systems to offset upfront costs. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that offers 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 | $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
Since the model of solar panels and the installation company you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The type of solar panel you want to install plays a role in which company you should opt for, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
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
How much does it cost to install solar panels in Essex Junction?
This is a hard question to answer precisely, because the cost depends on many 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 above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Essex Junction?
A solar panel system isn't free in Essex Junction, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Essex Junction, 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.
How often do you have to replace solar panels?
Though 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.