Solar Panel Cost Guide in Griswold, CT (2024 Update)
- Griswold Solar Installation Cost: $11,856
- 25-Year Savings: $20,843
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Griswold
Let’s have a look at the average cost of solar in Griswold.
The national average cost of solar panels is $2.66 per watt, but in Griswold it’s 4 per watt.Using this figure, a typical 4.5-kW system would cost about $11,856 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Griswold can save around $25,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Griswold that can help you get a more accurate cost estimate for your home.
Solar savings over time in Griswold
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-6,324 |
| 5 years | $-2,636 |
| 7 years | $1,052 |
| 9 years | $4,740 |
| 11 years | $8,428 |
| 13 years | $12,116 |
| 15 years | $15,804 |
| 17 years | $19,492 |
| 19 years | $23,180 |
| 21 years | $26,868 |
| 23 years | $30,556 |
| 25 years | $34,244 |
Top Solar Installers in Griswold
Although you can install solar panels on your own, it involves extra effort and expertise. For that reason, most people choose to hire a solar panel installer. Plus, if you’re unsure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Griswold
Factors that Affect Solar Panel Costs in Griswold
Although the average cost of a solar system in Griswold is $11,856, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,750. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Griswold, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of 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 principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Griswold are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $23,068 | 10.4 years |
| 8 kW | $3.83 | $21,420 | $31,178 | 10.2 years |
| 10 kW | $3.75 | $26,250 | $39,497 | 10.0 years |
| 12 kW | $3.67 | $30,870 | $48,027 | 9.8 years |
| 14 kW | $3.60 | $35,280 | $56,766 | 9.6 years |
| 16 kW | $3.52 | $39,480 | $65,715 | 9.4 years |
| 18 kW | $3.45 | $43,470 | $74,875 | 9.2 years |
| 20 kW | $3.38 | $47,250 | $84,244 | 9.0 years |
How to Save on Solar Panels
There are a large number of companies available in Griswold, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Warranty: If you’re worried about the longevity of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
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 Griswold, CT Solar Cost FAQs
What is the average cost of installing solar panels in Griswold?
This is a hard question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Griswold?
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 home 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 bang for your buck from going solar.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Griswold is currently $330,686, which means you can expect a value of about $13,558 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Griswold is a rewarding investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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.