Solar Panel Cost Guide in New Fairfield, CT (2024 Update)
- New Fairfield Solar Installation Cost: $11,749
- 25-Year Savings: $18,247
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in New Fairfield
Let’s have a look at the average cost of solar panels in New Fairfield.
In New Fairfield, solar panels cost about 4 per watt on average.The average solar panel system size in New Fairfield is around 4.5 kilowatts, meaning a cost of about $11,749 for a solar installation, or $16,801 before the 0 federal solar tax credit is applied.
The true price you pay can be above or below the average in New Fairfield depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $23,000 in savings on utility 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 New Fairfield
| Year | Return on Investment |
|---|---|
| 1 years | $-9,905 |
| 3 years | $-6,217 |
| 5 years | $-2,529 |
| 7 years | $1,159 |
| 9 years | $4,847 |
| 11 years | $8,535 |
| 13 years | $12,223 |
| 15 years | $15,911 |
| 17 years | $19,599 |
| 19 years | $23,287 |
| 21 years | $26,975 |
| 23 years | $30,663 |
| 25 years | $34,351 |
Top Solar Installers in New Fairfield
Although you can install solar panels by yourself, it requires extra time and handiness. For that reason, the majority of homeowners choose a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in New Fairfield, therefore optimizing your ROI.
If you're searching for a solar company in New Fairfield, we've compiled 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 New Fairfield
Factors that Affect Solar Panel Costs in New Fairfield
While the average cost of a solar system in New Fairfield is $11,749, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar system in New Fairfield, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $3,750 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the New Fairfield average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor 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 installer you choose will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment 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 | $19,840 | 11.3 years |
| 8 kW | $3.83 | $21,420 | $26,874 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $34,117 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,571 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $49,234 | 10.4 years |
| 16 kW | $3.52 | $39,480 | $57,108 | 10.2 years |
| 18 kW | $3.45 | $43,470 | $65,191 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $73,485 | 9.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: If you’re concerned about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 New Fairfield, CT Solar Cost FAQs
What is the average cost of installing solar panels in New Fairfield?
This is a tough 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power 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.