Solar Panel Cost Guide in Middlebury, VT (2023 Update)
- Middlebury Solar Installation Cost: $11,236
- 25-Year Savings: $22,522
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Middlebury
Find out how much it might cost to make the switch to solar in Middlebury.
Although the national average of solar panels is $2.66 per watt, solar panels in Middlebury typically cost around 2.87. To cover the typical energy needs of the average home in Middlebury, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,230, or $16,059 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Middlebury depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $23,000 over 20 years on power bills.
Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.
Solar savings over time in Middlebury
| Year | Return on Investment |
|---|---|
| 1 years | $-11,123 |
| 3 years | $-10,898 |
| 5 years | $-10,673 |
| 7 years | $-10,448 |
| 9 years | $-10,223 |
| 11 years | $-9,998 |
| 13 years | $-9,773 |
| 15 years | $-9,548 |
| 17 years | $-9,323 |
| 19 years | $-9,098 |
| 21 years | $-8,873 |
| 23 years | $-8,648 |
| 25 years | $-8,423 |
Top Solar Installers in Middlebury
When going solar, many homeowners choose to use a solar installation company since handling can be a time-consuming project. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you're looking for a solar installer in Middlebury, the EcoWatch team has organized a list of our top suggestions here:
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 Middlebury
Factors that Affect Solar Panel Costs in Middlebury
For many Middlebury homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Middlebury, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar 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 ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Middlebury average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Middlebury, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Middlebury is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $23,679 | 8.7 years |
| 8 kW | $2.93 | $16,393 | $31,894 | 8.5 years |
| 10 kW | $2.87 | $20,090 | $40,269 | 8.3 years |
| 12 kW | $2.81 | $23,626 | $48,805 | 8.2 years |
| 14 kW | $2.76 | $27,001 | $57,501 | 8.0 years |
| 16 kW | $2.70 | $30,215 | $66,359 | 7.8 years |
| 18 kW | $2.64 | $33,269 | $75,377 | 7.7 years |
| 20 kW | $2.58 | $36,162 | $84,555 | 7.5 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Companies that have been in business for many years likely have a good 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 service, such as part repairs and replacements.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Middlebury, VT Solar Cost FAQs
How much does it cost to install solar panels in Middlebury?
The average cost of solar panels in Middlebury 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 things 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 Middlebury?
Leasing solar panels can be an option if you can't 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 property 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 financial benefits from going solar.
Is it worth going solar in Middlebury?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Even 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 how much 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 keep using 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.