Solar Panel Cost Guide in Norwich, VT (2024 Update)
- Norwich Solar Installation Cost: $14,767
- 25-Year Savings: $22,749
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Norwich
Let’s take a look at the average cost of solar in Norwich.
While the national average of solar panels is $2.66 per watt, solar panels in Norwich typically cost about 4.Using this figure, a typical 5.5-kW system would cost about $14,767 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With average savings of about $23,000 on electricity bills over 20 years, many homeowners in Norwich find going solar can pay off big.
Click the button below to get connected to a highly rated solar company in your area for a personalized estimate.
Solar savings over time in Norwich
| Year | Return on Investment |
|---|---|
| 1 years | $-13,406 |
| 3 years | $-10,685 |
| 5 years | $-7,963 |
| 7 years | $-5,241 |
| 9 years | $-2,519 |
| 11 years | $202 |
| 13 years | $2,924 |
| 15 years | $5,646 |
| 17 years | $8,368 |
| 19 years | $11,089 |
| 21 years | $13,811 |
| 23 years | $16,533 |
| 25 years | $19,255 |
Top Solar Installers in Norwich
When switching to solar energy, many homeowners prefer to use a solar installation company since handling can be a time-consuming project. The expertise that solar installers provide can be useful as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.
If you're looking for a solar installer in Norwich, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Norwich
Factors that Affect Solar Panel Costs in Norwich
The cost of installing a solar system in Norwich can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest 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 solar panels in Norwich, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by about $3,850 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
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 Norwich homeowners choose to finance their solar panel systems to offset upfront costs.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original 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 consideration when trying to evaluate the cost of solar for your home or business in Norwich is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that provide a range of services at different price points.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $4.00 | $16,817 | $20,147 | 11.4 years |
| 8 kW | $3.93 | $21,991 | $27,294 | 11.2 years |
| 10 kW | $3.85 | $26,950 | $34,657 | 10.9 years |
| 12 kW | $3.77 | $31,693 | $42,235 | 10.7 years |
| 14 kW | $3.70 | $36,221 | $50,029 | 10.5 years |
| 16 kW | $3.62 | $40,533 | $58,038 | 10.3 years |
| 18 kW | $3.54 | $44,629 | $66,263 | 10.1 years |
| 20 kW | $3.47 | $48,510 | $74,703 | 9.8 years |
How to Save on Solar Panels
There are many 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: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Norwich, VT Solar Cost FAQs
What is the average cost of installing solar panels in Norwich?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly 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 cost more if you want additional 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.
Should I lease or buy solar panels in Norwich?
Leasing solar panels can be an attractive choice, because it commonly 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 option if you want to get the most savings.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Norwich, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can 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 install 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.