Solar Panel Cost Guide in Suffield, CT (2024 Update)
- Suffield Solar Installation Cost: $12,323
- 25-Year Savings: $17,819
- Payback Period: 11.4 Years
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Average Cost of Solar Panels in Suffield
See how much it might cost to make the switch to solar in Suffield.
In Suffield, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Suffield, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,323, or $17,622 before the federal solar tax credit of 0 is applied.
The true cost of your system can go higher or lower than the average in Suffield based on several factors, such as the kind of solar panels you choose and the solar installer you hire.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar panel company in Suffield for a custom estimate.
Solar savings over time in Suffield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,479 |
| 3 years | $-6,791 |
| 5 years | $-3,103 |
| 7 years | $585 |
| 9 years | $4,273 |
| 11 years | $7,961 |
| 13 years | $11,649 |
| 15 years | $15,337 |
| 17 years | $19,025 |
| 19 years | $22,713 |
| 21 years | $26,401 |
| 23 years | $30,089 |
| 25 years | $33,777 |
Top Solar Installers in Suffield
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make switching to solar power much easier. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
If you're on the hunt for a solar company in Suffield, we've organized 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 Suffield
Factors that Affect Solar Panel Costs in Suffield
There are several factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need for your home, 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. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Suffield to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.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 more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Suffield is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that provide a range of services for different budgets.Additionally, some companies in Suffield have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $18,154 | 11.9 years |
| 8 kW | $3.83 | $21,420 | $24,626 | 11.6 years |
| 10 kW | $3.75 | $26,250 | $31,307 | 11.4 years |
| 12 kW | $3.67 | $30,870 | $38,198 | 11.2 years |
| 14 kW | $3.60 | $35,280 | $45,300 | 10.9 years |
| 16 kW | $3.52 | $39,480 | $52,611 | 10.7 years |
| 18 kW | $3.45 | $43,470 | $60,133 | 10.5 years |
| 20 kW | $3.38 | $47,250 | $67,864 | 10.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of 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 previous customers.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
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 Suffield, CT Solar Cost FAQs
What is the average cost of installing solar panels in Suffield?
The average cost of solar panels in Suffield is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Suffield?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t go for 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 a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs 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 household 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.