Solar Panel Cost Guide in Coventry, CT (2024 Update)
- Coventry Solar Installation Cost: $12,322
- 25-Year Savings: $18,283
- Payback Period: 11.2 Years
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Average Cost of Solar Panels in Coventry
Find out how much it might cost to go solar in Coventry.
While the national average of solar panels is $2.66 per watt, solar panels in Coventry generally cost about 4.To account for the typical energy needs of the average home in Coventry, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $12,322, or $17,620 before the federal solar tax credit of 0 is applied.
The true cost of your system can be above or below the average in Coventry depending on several factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $22,000 on utility bills over 20 years, many homeowners in Coventry find going solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Coventry
| Year | Return on Investment |
|---|---|
| 1 years | $-10,478 |
| 3 years | $-6,790 |
| 5 years | $-3,102 |
| 7 years | $586 |
| 9 years | $4,274 |
| 11 years | $7,962 |
| 13 years | $11,650 |
| 15 years | $15,338 |
| 17 years | $19,026 |
| 19 years | $22,714 |
| 21 years | $26,402 |
| 23 years | $30,090 |
| 25 years | $33,778 |
Top Solar Installers in Coventry
Putting up solar panels on your own can be a difficult project, which is why using a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're on the hunt for a solar company in Coventry, the EcoWatch team has 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
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Coventry
Factors that Affect Solar Panel Costs in Coventry
For many Coventry homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Coventry, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require 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 $3,750.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Coventry homeowners decide to finance their solar panel systems to make paying for solar more affordable.Though solar loans make adopting solar energy more accessible for Coventry 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 company you pick will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, 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 | $3.90 | $16,380 | $18,749 | 11.7 years |
| 8 kW | $3.83 | $21,420 | $25,418 | 11.4 years |
| 10 kW | $3.75 | $26,250 | $32,298 | 11.2 years |
| 12 kW | $3.67 | $30,870 | $39,388 | 11.0 years |
| 14 kW | $3.60 | $35,280 | $46,687 | 10.8 years |
| 16 kW | $3.52 | $39,480 | $54,197 | 10.5 years |
| 18 kW | $3.45 | $43,470 | $61,916 | 10.3 years |
| 20 kW | $3.38 | $47,250 | $69,846 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
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
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Coventry, CT Solar Cost FAQs
How much does it cost to install solar panels in Coventry?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Coventry?
Leasing solar panels can be an option if you can’t afford to 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 financial benefits from going solar.
Is it worth going solar in Coventry?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
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 how much 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 install 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.