Solar Panel Cost Guide in Montpelier, VT (2024 Update)
- Montpelier Solar Installation Cost: $15,142
- 25-Year Savings: $22,389
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Montpelier
Find out what the average cost of a solar system is in Montpelier.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Montpelier, the average cost of solar panels is 4 per watt.Since a 5.6-kW system is needed to cover the energy usage of a typical home in Montpelier, the average price of going solar will be about $15,142 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what company you go with.With average savings of about $23,000 on power bills over 20 years, many homeowners in Montpelier find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Montpelier
| Year | Return on Investment |
|---|---|
| 1 years | $-13,781 |
| 3 years | $-11,060 |
| 5 years | $-8,338 |
| 7 years | $-5,616 |
| 9 years | $-2,894 |
| 11 years | $-172 |
| 13 years | $2,549 |
| 15 years | $5,271 |
| 17 years | $7,993 |
| 19 years | $10,715 |
| 21 years | $13,436 |
| 23 years | $16,158 |
| 25 years | $18,880 |
Top Solar Installers in Montpelier
Although it's possible to install solar panels on your own, it takes extra energy and handiness. Because of that, most homeowners choose to hire a solar panel installer. In addition, if you’d like to maximize your investment in solar power, opting for a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
If you're on the hunt for a solar company in Montpelier, the EcoWatch team has compiled a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Montpelier
Factors that Affect Solar Panel Costs in Montpelier
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Montpelier: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,850 per kilowatt in Montpelier.The brand of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Montpelier homeowners choose to finance their solar panel systems to make going solar more affordable.While solar loans make adopting solar energy more accessible for Montpelier homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a role in determining the cost. Montpelier’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $4.00 | $16,817 | $19,146 | 11.7 years |
| 8 kW | $3.93 | $21,991 | $25,959 | 11.5 years |
| 10 kW | $3.85 | $26,950 | $32,988 | 11.2 years |
| 12 kW | $3.77 | $31,693 | $40,232 | 11.0 years |
| 14 kW | $3.70 | $36,221 | $47,692 | 10.8 years |
| 16 kW | $3.62 | $40,533 | $55,368 | 10.6 years |
| 18 kW | $3.54 | $44,629 | $63,259 | 10.3 years |
| 20 kW | $3.47 | $48,510 | $71,365 | 10.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Montpelier, VT Solar Cost FAQs
What is the average cost of installing solar panels in Montpelier?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $19,250 for a 5-kW system and $38,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Montpelier?
On average, the lifespan of solar panels is 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.