Solar Panel Cost Guide in Salem, CT (2024 Update)
- Salem Solar Installation Cost: $11,856
- 25-Year Savings: $18,939
- Payback Period: 10.7 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Salem
We go over average solar pricing in Salem.
In Salem, solar panels cost about 4 per watt on average.Using this figure, a typical 4.5-kW system would cost about $11,856 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Salem based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Salem see about $23,000 in savings on utility bills over 20 years.
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 Salem
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 Salem
Although it's possible to install solar panels yourself, it requires extra energy and handiness. For that reason, most homeowners choose to go with a solar panel installer. Also, if you’d like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you're looking for a solar installer in Salem, the EcoWatch team has 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 Salem
Factors that Affect Solar Panel Costs in Salem
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Salem: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Salem, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your overall cost can increase by about $3,750 for each additional kilowatt you need.The type of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Salem offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your total costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $20,539 | 11.1 years |
8 kW | $3.83 | $21,420 | $27,805 | 10.9 years |
10 kW | $3.75 | $26,250 | $35,282 | 10.7 years |
12 kW | $3.67 | $30,870 | $42,968 | 10.5 years |
14 kW | $3.60 | $35,280 | $50,865 | 10.2 years |
16 kW | $3.52 | $39,480 | $58,971 | 10.0 years |
18 kW | $3.45 | $43,470 | $67,287 | 9.8 years |
20 kW | $3.38 | $47,250 | $75,814 | 9.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Contract: Read the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: If you care about the longevity of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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 Salem, CT Solar Cost FAQs
What is the average cost of installing solar panels in Salem?
The average cost of solar panels in Salem is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Salem?
You can’t get solar panels for free in Salem. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Salem?
Although 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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.