Solar Panel Cost Guide in Colchester, VT (2024 Update)
- Colchester Solar Installation Cost: $15,413
- 25-Year Savings: $22,210
- Payback Period: 11.4 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Colchester
Here’s how much it might cost to install solar panels in Colchester.
While the national average of solar panels is $2.66 per watt, solar panels in Colchester typically cost about 4.The average Colchester homeowner needs a 5.7-kilowatt system, which would cost about $15,413 with the federal tax credit, or $22,041 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Colchester
Year | Return on Investment |
---|---|
1 years | $-14,052 |
3 years | $-11,331 |
5 years | $-8,609 |
7 years | $-5,887 |
9 years | $-3,165 |
11 years | $-444 |
13 years | $2,278 |
15 years | $5,000 |
17 years | $7,722 |
19 years | $10,443 |
21 years | $13,165 |
23 years | $15,887 |
25 years | $18,609 |
Top Solar Installers in Colchester
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar company can make your swap to solar power much easier. The expertise that solar companies offer can be valuable as well, particularly if you aren’t sure what type of solar equipment you need.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Colchester
Factors that Affect Solar Panel Costs in Colchester
For many Colchester homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Colchester, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Colchester, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $3,850 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far 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 Colchester to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Colchester is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $4.00 | $16,817 | $18,538 | 11.9 years |
8 kW | $3.93 | $21,991 | $25,148 | 11.7 years |
10 kW | $3.85 | $26,950 | $31,974 | 11.4 years |
12 kW | $3.77 | $31,693 | $39,016 | 11.2 years |
14 kW | $3.70 | $36,221 | $46,273 | 11.0 years |
16 kW | $3.62 | $40,533 | $53,746 | 10.7 years |
18 kW | $3.54 | $44,629 | $61,434 | 10.5 years |
20 kW | $3.47 | $48,510 | $69,338 | 10.3 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 decide on the right company for you, here are some tips to keep in mind:
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
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 Colchester, VT Solar Cost FAQs
What is the average cost of installing solar panels in Colchester?
The average cost of solar panels in Colchester is about $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Colchester?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
On average, solar panels can last 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.