Solar Panel Cost Guide in Jericho, VT (2024 Update)
- Jericho Solar Installation Cost: $15,413
- 25-Year Savings: $23,191
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Jericho
Find out what the average cost of solar panels are in Jericho.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Jericho, the typical cost of a solar system is 4 per watt.The average Jericho 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.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what company you go with.Despite the significant initial cost, the average Jericho homeowner can save around $23,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a vetted solar company in Jericho, you can click the button below.
Solar savings over time in Jericho
| 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 Jericho
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make converting to solar power much easier. Another great thing about going with a top solar installer is that it'll provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar company in Jericho, we've 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 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 Jericho
Factors that Affect Solar Panel Costs in Jericho
The cost of installing a solar system in Jericho can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,850.The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment consists of 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 looking into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Jericho, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 considerably.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger 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 | $4.00 | $16,817 | $19,567 | 11.6 years |
| 8 kW | $3.93 | $21,991 | $26,520 | 11.3 years |
| 10 kW | $3.85 | $26,950 | $33,689 | 11.1 years |
| 12 kW | $3.77 | $31,693 | $41,074 | 10.9 years |
| 14 kW | $3.70 | $36,221 | $48,674 | 10.7 years |
| 16 kW | $3.62 | $40,533 | $56,490 | 10.4 years |
| 18 kW | $3.54 | $44,629 | $64,521 | 10.2 years |
| 20 kW | $3.47 | $48,510 | $72,768 | 10.0 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Your solar installer should have a sound 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: If you’re concerned about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Jericho, VT Solar Cost FAQs
How much does it cost to install solar panels in Jericho?
The average cost of solar panels in Jericho is about $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the actual 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 consume.
Can you get solar panels for free in Jericho?
You can’t get solar panels for free in Jericho. However, you may still be able to get 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?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,212.78 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.