Solar Panel Cost Guide in Canaan, NH (2024 Update)
- Canaan Solar Installation Cost: $15,252
- 25-Year Savings: $16,283
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Canaan
See how much it might cost to switch to solar power in Canaan.
The national average cost of solar panels is $2.66 per watt, but in Canaan it’s 4 per watt.The average solar panel system size in Canaan is around 5.2 kilowatts, meaning a cost of about $15,252 for a solar installation, or $21,810 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely vary based on your specific situation and what company you choose to go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Canaan can save around $20,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Canaan that can help you get a more accurate cost estimate for your home.
Solar savings over time in Canaan
| Year | Return on Investment |
|---|---|
| 1 years | $-13,845 |
| 3 years | $-11,032 |
| 5 years | $-8,218 |
| 7 years | $-5,404 |
| 9 years | $-2,591 |
| 11 years | $223 |
| 13 years | $3,037 |
| 15 years | $5,850 |
| 17 years | $8,664 |
| 19 years | $11,478 |
| 21 years | $14,291 |
| 23 years | $17,105 |
| 25 years | $19,919 |
Top Solar Installers in Canaan
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make switching to solar power much easier. Another good thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
If you're looking for a solar company in Canaan, we've put together 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Canaan
Factors that Affect Solar Panel Costs in Canaan
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Canaan, one of the most crucial 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 usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $4,220 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Canaan, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Canaan have solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Canaan is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.39 | $18,433 | $12,710 | 14.8 years |
| 8 kW | $4.30 | $24,105 | $17,420 | 14.5 years |
| 10 kW | $4.22 | $29,540 | $22,366 | 14.2 years |
| 12 kW | $4.14 | $34,739 | $27,548 | 13.9 years |
| 14 kW | $4.05 | $39,702 | $32,966 | 13.7 years |
| 16 kW | $3.97 | $44,428 | $38,621 | 13.4 years |
| 18 kW | $3.88 | $48,918 | $44,512 | 13.1 years |
| 20 kW | $3.80 | $53,172 | $50,639 | 12.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Canaan, NH Solar Cost FAQs
What is the average cost of installing solar panels in Canaan?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Canaan?
You can’t get solar panels for free in Canaan. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Canaan, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Canaan?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.