Solar Panel Cost Guide in Derby, CT (2024 Update)
- Derby Solar Installation Cost: $11,885
- 25-Year Savings: $21,486
- Payback Period: 9.8 Years
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Average Cost of Solar Panels in Derby
Find out what the average cost of installing solar panels is in Derby.
The average cost of a solar system in Derby is 4 per watt.Using this figure, a typical 4.5-kW system would cost about $11,885 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Derby based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a sound investment. The average homeowner in Derby can save around $25,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Derby
| Year | Return on Investment |
|---|---|
| 1 years | $-10,041 |
| 3 years | $-6,353 |
| 5 years | $-2,665 |
| 7 years | $1,023 |
| 9 years | $4,711 |
| 11 years | $8,399 |
| 13 years | $12,087 |
| 15 years | $15,775 |
| 17 years | $19,463 |
| 19 years | $23,151 |
| 21 years | $26,839 |
| 23 years | $30,527 |
| 25 years | $34,215 |
Top Solar Installers in Derby
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of a solar company can make converting to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for you.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Derby:
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 Derby
Factors that Affect Solar Panel Costs in Derby
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Derby: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Derby, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Derby to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.However, the interest on solar loans also adds to your total costs, so it’s crucial 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 making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Derby is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fits within your budget.
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 | $23,854 | 10.2 years |
| 8 kW | $3.83 | $21,420 | $32,225 | 10.0 years |
| 10 kW | $3.75 | $26,250 | $40,806 | 9.8 years |
| 12 kW | $3.67 | $30,870 | $49,598 | 9.6 years |
| 14 kW | $3.60 | $35,280 | $58,599 | 9.4 years |
| 16 kW | $3.52 | $39,480 | $67,810 | 9.2 years |
| 18 kW | $3.45 | $43,470 | $77,231 | 9.0 years |
| 20 kW | $3.38 | $47,250 | $86,863 | 8.8 years |
How to Save on Solar Panels
There are many companies available in Derby, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: The type of solar panel you’d like plays a part in which company you should go with, since different companies have 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
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 Derby, CT Solar Cost FAQs
How much does it cost to install solar panels in Derby?
This is a tough question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Derby?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Derby, 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 long do solar panels last in Derby?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt 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.