Solar Panel Cost Guide in Rutland, VT (2023 Update)
- Rutland Solar Installation Cost: $11,117
- 25-Year Savings: $22,641
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rutland
Let's have a look at the average cost of solar panels in Rutland.
In Rutland, solar panels cost about 2.87 per watt on average. Using this figure, a typical 5.5-kW system would cost about $11,110 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. With average savings of about $23,000 on utility bills over 20 years, many homeowners in Rutland find installing solar panels has a decent ROI.
You can click the button below to get connected with a top solar installer in Rutland that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rutland
| Year | Return on Investment |
|---|---|
| 1 years | $-9,756 |
| 3 years | $-7,034 |
| 5 years | $-4,313 |
| 7 years | $-1,591 |
| 9 years | $1,131 |
| 11 years | $3,853 |
| 13 years | $6,575 |
| 15 years | $9,296 |
| 17 years | $12,018 |
| 19 years | $14,740 |
| 21 years | $17,462 |
| 23 years | $20,183 |
| 25 years | $22,905 |
Top Solar Installers in Rutland
Although you can install solar panels by yourself, it requires extra energy and expertise. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your family.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:
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 Rutland
Factors that Affect Solar Panel Costs in Rutland
Although the average cost of a solar system in Rutland is $11,110, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Rutland, 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 consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,870 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Rutland, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $24,067 | 8.6 years |
| 8 kW | $2.93 | $16,393 | $32,411 | 8.4 years |
| 10 kW | $2.87 | $20,090 | $40,915 | 8.2 years |
| 12 kW | $2.81 | $23,626 | $49,581 | 8.1 years |
| 14 kW | $2.76 | $27,001 | $58,406 | 7.9 years |
| 16 kW | $2.70 | $30,215 | $67,393 | 7.7 years |
| 18 kW | $2.64 | $33,269 | $76,541 | 7.6 years |
| 20 kW | $2.58 | $36,162 | $85,849 | 7.4 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Installation Process: When going solar, it's essential to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which company you should opt for, since different companies offer different panels.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
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 Rutland, VT Solar Cost FAQs
What is the average cost of installing solar panels in Rutland?
The average cost of solar panels in Rutland is about $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rutland is currently $169,700, which means you can expect a value of about $6,958 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Rutland is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy between 20 and 35 panels to cover 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.