Solar Panel Cost Guide in Torrington, WY (2024 Update)
- Torrington Solar Installation Cost: $37,445
- 25-Year Savings: $42,841
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Torrington
Find out what the average cost of a solar system is in Torrington.
Although the national average of solar panels is $2.66 per watt, solar panels in Torrington generally cost about 4.Since a 14.9-kW system is needed to cover the energy needs of a typical home in Torrington, the average price of going solar will be about $37,445 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Torrington homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Torrington can save around $19,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Torrington
| Year | Return on Investment |
|---|---|
| 1 years | $-36,303 |
| 3 years | $-34,020 |
| 5 years | $-31,736 |
| 7 years | $-29,453 |
| 9 years | $-27,169 |
| 11 years | $-24,886 |
| 13 years | $-22,603 |
| 15 years | $-20,319 |
| 17 years | $-18,036 |
| 19 years | $-15,752 |
| 21 years | $-13,469 |
| 23 years | $-11,185 |
| 25 years | $-8,902 |
Top Solar Installers in Torrington
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make swapping over to solar power much easier. Local solar installers can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.
If you're on the hunt for a solar installer in Torrington, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Torrington
Factors that Affect Solar Panel Costs in Torrington
Though the average cost of a solar system in Torrington is $37,445, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,580 per kilowatt in Torrington.The kind of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Torrington homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you pick will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $3.72 | $15,637 | $12,359 | 14.0 years |
| 8 kW | $3.65 | $20,449 | $16,880 | 13.7 years |
| 10 kW | $3.58 | $25,060 | $21,601 | 13.4 years |
| 12 kW | $3.51 | $29,471 | $26,522 | 13.2 years |
| 14 kW | $3.44 | $33,681 | $31,644 | 12.9 years |
| 16 kW | $3.37 | $37,690 | $36,967 | 12.6 years |
| 18 kW | $3.29 | $41,499 | $42,490 | 12.4 years |
| 20 kW | $3.22 | $45,108 | $48,213 | 12.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not 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.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should opt for, since different companies provide different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Torrington, WY Solar Cost FAQs
What is the average cost of installing solar panels in Torrington?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.