Solar Panel Cost Guide in Waterford, CT (2024 Update)

  • Waterford Solar Installation Cost: $11,856
  • 25-Year Savings: $34,244
  • Payback Period: 10.7 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Waterford

See how much it might cost to make the switch to solar in Waterford.

In Waterford, 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.

Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar system you want, your solar contractor and more.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Waterford see about $23,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a vetted solar company in Waterford that can help you get a more accurate cost estimate for your home.

Solar savings over time in Waterford

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 Waterford

Although you can install solar panels by yourself, it takes extra effort and expertise. That's one of the reasons most homeowners choose a solar panel installer. Another upside of working with a solar installer is that they can help you make the most of your investment by reducing your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.

If you’d like to make the switch to solar but still aren’t sure which solar installer to go with, here are our suggestions for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Waterford

Factors that Affect Solar Panel Costs in Waterford

There are several factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Waterford homeowners decide to finance their solar panel systems to make going solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you hire to install your solar system can impact the cost. Waterford’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

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

Since the kind of solar panels and the installer you choose significantly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should choose, since different companies have access to different panels.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Waterford, CT Solar Cost FAQs

How much does it cost to install solar panels in Waterford?

The average cost of solar panels in Waterford 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 such as the model of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase the value of your home?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waterford is currently $364,870, so you can expect a value of about $14,960 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Waterford is a rewarding investment.

How many solar panels should I get to power my home?

To figure out what solar panel system size 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 typically 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.

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