Solar Panel Cost Guide in Waterbury, VT (2024 Update)
- Waterbury Solar Installation Cost: $15,142
- 25-Year Savings: $24,831
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Waterbury
Here’s how much it might cost to install solar panels in Waterbury.
In Waterbury, solar panels cost about 4 per watt on average.The average solar panel system size in Waterbury is around 5.6 kilowatts, meaning a cost of about $15,142 for a solar installation, or $21,653 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Waterbury homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Waterbury can save around $24,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar company in your area for a personalized estimate.
Solar savings over time in Waterbury
| Year | Return on Investment |
|---|---|
| 1 years | $-13,781 |
| 3 years | $-11,060 |
| 5 years | $-8,338 |
| 7 years | $-5,616 |
| 9 years | $-2,894 |
| 11 years | $-172 |
| 13 years | $2,549 |
| 15 years | $5,271 |
| 17 years | $7,993 |
| 19 years | $10,715 |
| 21 years | $13,436 |
| 23 years | $16,158 |
| 25 years | $18,880 |
Top Solar Installers in Waterbury
Installing solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
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 nearby:
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 Waterbury
Factors that Affect Solar Panel Costs in Waterbury
Although the average cost of a solar system in Waterbury is $15,142, your final cost may be higher or lower than that. 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over five to seven years on average.Though solar loans make adopting solar energy more accessible for Waterbury homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $21,754 | 10.9 years |
| 8 kW | $3.93 | $21,991 | $29,436 | 10.7 years |
| 10 kW | $3.85 | $26,950 | $37,334 | 10.5 years |
| 12 kW | $3.77 | $31,693 | $45,448 | 10.3 years |
| 14 kW | $3.70 | $36,221 | $53,777 | 10.1 years |
| 16 kW | $3.62 | $40,533 | $62,322 | 9.9 years |
| 18 kW | $3.54 | $44,629 | $71,083 | 9.6 years |
| 20 kW | $3.47 | $48,510 | $80,059 | 9.4 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a quality company.
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 Waterbury, VT Solar Cost FAQs
How much does it cost to install solar panels in Waterbury?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Waterbury have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 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 get 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.