Solar Panel Cost Guide in Randolph, VT (2024 Update)
- Randolph Solar Installation Cost: $15,051
- 25-Year Savings: $26,072
- Payback Period: 10.1 Years
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Average Cost of Solar Panels in Randolph
Let’s take a look at the average cost of solar panels in Randolph.
In Randolph, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Randolph, most homeowners require a 5.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,051, or $21,523 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Randolph homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $25,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar installer in Randolph, you can click the button below.
Solar savings over time in Randolph
| Year | Return on Investment |
|---|---|
| 1 years | $-13,690 |
| 3 years | $-10,968 |
| 5 years | $-8,247 |
| 7 years | $-5,525 |
| 9 years | $-2,803 |
| 11 years | $-81 |
| 13 years | $2,640 |
| 15 years | $5,362 |
| 17 years | $8,084 |
| 19 years | $10,806 |
| 21 years | $13,528 |
| 23 years | $16,249 |
| 25 years | $18,971 |
Top Solar Installers in Randolph
Although it's possible to install solar panels on your own, it involves extra effort and knowledge. That's why almost all homeowners choose to hire a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for you.
If you’d like to start using solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers near you:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Randolph
Factors that Affect Solar Panel Costs in Randolph
For many Randolph homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Randolph, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Randolph to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect your pricing. Randolph’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $23,247 | 10.5 years |
| 8 kW | $3.93 | $21,991 | $31,427 | 10.3 years |
| 10 kW | $3.85 | $26,950 | $39,823 | 10.1 years |
| 12 kW | $3.77 | $31,693 | $48,435 | 9.9 years |
| 14 kW | $3.70 | $36,221 | $57,262 | 9.7 years |
| 16 kW | $3.62 | $40,533 | $66,304 | 9.5 years |
| 18 kW | $3.54 | $44,629 | $75,563 | 9.3 years |
| 20 kW | $3.47 | $48,510 | $85,037 | 9.1 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total 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 take into account, including:
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should opt for, since different companies offer different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Randolph, VT Solar Cost FAQs
What is the average cost of installing solar panels in Randolph?
The average cost of solar panels in Randolph is about $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the real cost will depend on things 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 Randolph?
Leasing solar panels can be an option if you are unable to 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 home 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.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,335.47 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.