Solar Panel Cost Guide in Byram, CT (2024 Update)
- Byram Solar Installation Cost: $11,749
- 25-Year Savings: $22,771
- Payback Period: 9.3 Years
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Average Cost of Solar Panels in Byram
See how much it might cost to install solar panels in Byram.
Although the national average of solar panels is $2.66 per watt, solar panels in Byram typically cost around 4.Using this figure, a typical 4.5-kW system would cost about $11,749 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Byram based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $27,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar company in Byram that can help you get a more accurate cost estimate for your home.
Solar savings over time in Byram
| Year | Return on Investment |
|---|---|
| 1 years | $-9,708 |
| 3 years | $-5,627 |
| 5 years | $-1,546 |
| 7 years | $2,536 |
| 9 years | $6,617 |
| 11 years | $10,699 |
| 13 years | $14,780 |
| 15 years | $18,862 |
| 17 years | $22,943 |
| 19 years | $27,024 |
| 21 years | $31,106 |
| 23 years | $35,187 |
| 25 years | $39,269 |
Top Solar Installers in Byram
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar company can make switching to solar power much easier. Some solar installers, especially local ones, can help you take advantage of incentives in Byram, optimizing your ROI.
If you're on the hunt for a solar installer in Byram, we've compiled a list of our top suggestions here:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Byram
Factors that Affect Solar Panel Costs in Byram
For many Byram homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Byram, 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 cost of a solar system in Byram, 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 figure out by looking at past power bills. Your overall cost can increase by around $3,750 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get 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
Most solar companies in Byram have solar loans, which reduce your upfront costs of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Byram, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.90 | $16,380 | $25,905 | 9.7 years |
| 8 kW | $3.83 | $21,420 | $34,960 | 9.5 years |
| 10 kW | $3.75 | $26,250 | $44,225 | 9.3 years |
| 12 kW | $3.67 | $30,870 | $53,700 | 9.1 years |
| 14 kW | $3.60 | $35,280 | $63,386 | 8.9 years |
| 16 kW | $3.52 | $39,480 | $73,281 | 8.8 years |
| 18 kW | $3.45 | $43,470 | $83,386 | 8.6 years |
| 20 kW | $3.38 | $47,250 | $93,701 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you’re worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: When reading over your solar installer’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 the company going out of business.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Byram, CT Solar Cost FAQs
What is the average cost of installing solar panels in Byram?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Byram?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 savings from going solar.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Byram is currently $1,139,205, which means you can look forward to a value of about $46,707 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Byram is a fruitful investment.
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.