Solar Panel Cost Guide in Shaftsbury, VT (2024 Update)
- Shaftsbury Solar Installation Cost: $14,663
- 25-Year Savings: $22,827
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Shaftsbury
Find out what the average cost of a solar system is in Shaftsbury.
The national average cost of solar panels is $2.66 per watt, but in Shaftsbury it’s 4 per watt.The average solar panel system size in Shaftsbury is around 5.4 kilowatts, meaning a cost of about $14,663 for a solar installation, or $20,968 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 may vary based on your household energy consumption, the type of equipment you choose, your solar contractor and more.Many homeowners find adopting solar power is a sound investment. The average homeowner in Shaftsbury can save about $24,000 on their energy bills over 20 years.
To get a free estimate from a pre-vetted solar installer in Shaftsbury, you can click the button below.
Solar savings over time in Shaftsbury
| Year | Return on Investment |
|---|---|
| 1 years | $-13,302 |
| 3 years | $-10,581 |
| 5 years | $-7,859 |
| 7 years | $-5,137 |
| 9 years | $-2,415 |
| 11 years | $306 |
| 13 years | $3,028 |
| 15 years | $5,750 |
| 17 years | $8,472 |
| 19 years | $11,193 |
| 21 years | $13,915 |
| 23 years | $16,637 |
| 25 years | $19,359 |
Top Solar Installers in Shaftsbury
When going solar, many homeowners opt to use a solar installer since handling can be a difficult project. Another benefit of working with a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Shaftsbury
Factors that Affect Solar Panel Costs in Shaftsbury
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Shaftsbury: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,850.There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only 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 Shaftsbury homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you select will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Shaftsbury are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $4.00 | $16,817 | $20,410 | 11.3 years |
| 8 kW | $3.93 | $21,991 | $27,644 | 11.1 years |
| 10 kW | $3.85 | $26,950 | $35,094 | 10.9 years |
| 12 kW | $3.77 | $31,693 | $42,759 | 10.6 years |
| 14 kW | $3.70 | $36,221 | $50,641 | 10.4 years |
| 16 kW | $3.62 | $40,533 | $58,737 | 10.2 years |
| 18 kW | $3.54 | $44,629 | $67,050 | 10.0 years |
| 20 kW | $3.47 | $48,510 | $75,578 | 9.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Read the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should choose, since different companies offer different panels.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
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 Shaftsbury, VT Solar Cost FAQs
How much does it cost to install solar panels in Shaftsbury?
This is a hard question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Shaftsbury?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Shaftsbury, 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 often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.