Solar Panel Cost Guide in Westminster, VT (Mar 2023)
- Westminster Solar Installation Cost: $10,829
- 25-Year Savings: $22,929
- Payback Period: 8.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Westminster
Let's take a look at the average cost of solar panels in Westminster.
In Westminster, solar panels cost about 2.87 per watt on average. To account for the typical energy usage of the average home in Westminster, most homeowners require a 5.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,829, or $15,485 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. With average savings of about $24,000 on power bills over 20 years, many homeowners in Westminster find going solar has a decent ROI.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Westminster
| Year | Return on Investment |
|---|---|
| 1 years | $-9,478 |
| 3 years | $-6,778 |
| 5 years | $-4,077 |
| 7 years | $-1,376 |
| 9 years | $1,324 |
| 11 years | $4,025 |
| 13 years | $6,726 |
| 15 years | $9,426 |
| 17 years | $12,127 |
| 19 years | $14,827 |
| 21 years | $17,528 |
| 23 years | $20,229 |
| 25 years | $22,929 |
Top Solar Installers in Westminster
Many homeowners decide to hire a solar panel company since installing solar panels by yourself can be hard. The expertise that solar installers provide can be useful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't sure which solar system company 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 Westminster
Factors that Affect Solar Panel Costs in Westminster
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just 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 Westminster to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact your pricing. Westminster's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $25,056 | 8.3 years |
| 8 kW | $2.93 | $16,393 | $33,729 | 8.2 years |
| 10 kW | $2.87 | $20,090 | $42,563 | 8.0 years |
| 12 kW | $2.81 | $23,626 | $51,558 | 7.9 years |
| 14 kW | $2.76 | $27,001 | $60,713 | 7.7 years |
| 16 kW | $2.70 | $30,215 | $70,030 | 7.5 years |
| 18 kW | $2.64 | $33,269 | $79,506 | 7.4 years |
| 20 kW | $2.58 | $36,162 | $89,144 | 7.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Westminster, VT Solar Cost FAQs
What is the average cost of installing solar panels in Westminster?
The average cost of solar panels in Westminster is about $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Westminster?
Leasing solar panels can be an appealing choice, as it usually 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Westminster?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Though 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 once you've had 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.