Solar Panel Cost Guide in Jericho, VT (2023 Update)
- Jericho Solar Installation Cost: $11,491
- 25-Year Savings: $23,190
- Payback Period: 8.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Jericho
Find out what the average cost of a solar system is in Jericho.
The average cost of a solar system in Jericho is 2.87 per watt. The average Jericho 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.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy usage and what installation company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Jericho see about $23,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Jericho
| Year | Return on Investment |
|---|---|
| 1 years | $-10,104 |
| 3 years | $-7,330 |
| 5 years | $-4,555 |
| 7 years | $-1,781 |
| 9 years | $994 |
| 11 years | $3,768 |
| 13 years | $6,543 |
| 15 years | $9,317 |
| 17 years | $12,092 |
| 19 years | $14,866 |
| 21 years | $17,641 |
| 23 years | $20,415 |
| 25 years | $23,190 |
Top Solar Installers in Jericho
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using an installer can make your swap to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
Working with a licensed solar company 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 Jericho
Factors that Affect Solar Panel Costs in Jericho
The cost of installing a solar system in Jericho can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Jericho, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,870 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Jericho, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Jericho, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you go with 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 hire to install your solar panels can influence how much you pay. Jericho's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $23,847 | 8.6 years |
| 8 kW | $2.93 | $16,393 | $32,118 | 8.4 years |
| 10 kW | $2.87 | $20,090 | $40,549 | 8.3 years |
| 12 kW | $2.81 | $23,626 | $49,141 | 8.1 years |
| 14 kW | $2.76 | $27,001 | $57,894 | 8.0 years |
| 16 kW | $2.70 | $30,215 | $66,807 | 7.8 years |
| 18 kW | $2.64 | $33,269 | $75,881 | 7.6 years |
| 20 kW | $2.58 | $36,162 | $85,116 | 7.5 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project 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 Jericho, VT Solar Cost FAQs
How much does it cost to install solar panels in Jericho?
The average cost of solar panels in Jericho 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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Jericho?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Jericho, 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 check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
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 larger amount 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.