Solar Panel Cost Guide in Norwich, VT (Mar 2023)
- Norwich Solar Installation Cost: $11,009
- 25-Year Savings: $22,748
- Payback Period: 8.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Norwich
Find out how much it might cost to go solar in Norwich.
In Norwich, solar panels cost about 2.87 per watt on average. Because a 5.5-kW system is needed to cover the energy usage of a typical home in Norwich, the average price of going solar will be about $11,009 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. With typical savings of about $23,000 on energy bills over 20 years, many homeowners in Norwich find investing in solar can pay off big.
Click the button below to get connected to a vetted solar company in your area for a customized estimate.
Solar savings over time in Norwich
| Year | Return on Investment |
|---|---|
| 1 years | $-9,659 |
| 3 years | $-6,958 |
| 5 years | $-4,258 |
| 7 years | $-1,557 |
| 9 years | $1,143 |
| 11 years | $3,844 |
| 13 years | $6,545 |
| 15 years | $9,245 |
| 17 years | $11,946 |
| 19 years | $14,647 |
| 21 years | $17,347 |
| 23 years | $20,048 |
| 25 years | $22,748 |
Top Solar Installers in Norwich
Although you can install solar panels by yourself, it requires extra labor and know-how. Because of that, most people choose to go with a solar panel installer. Plus, if you'd like to maximize your investment in solar, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Norwich:
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 Norwich
Factors that Affect Solar Panel Costs in Norwich
Though the average cost of a solar system in Norwich is $11,009, your final cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Norwich to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Norwich, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Norwich know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $24,428 | 8.5 years |
| 8 kW | $2.93 | $16,393 | $32,892 | 8.3 years |
| 10 kW | $2.87 | $20,090 | $41,517 | 8.2 years |
| 12 kW | $2.81 | $23,626 | $50,302 | 8.0 years |
| 14 kW | $2.76 | $27,001 | $59,248 | 7.8 years |
| 16 kW | $2.70 | $30,215 | $68,355 | 7.7 years |
| 18 kW | $2.64 | $33,269 | $77,623 | 7.5 years |
| 20 kW | $2.58 | $36,162 | $87,051 | 7.3 years |
How to Save on Solar Panels
There are numerous companies available in Norwich, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Norwich, VT Solar Cost FAQs
What is the average cost of installing solar panels in Norwich?
This is a difficult 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 higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.