Solar Panel Cost Guide in Riverside, CT (2024 Update)
- Riverside Solar Installation Cost: $11,749
- 25-Year Savings: $18,247
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Riverside
See how much it might cost to go solar in Riverside.
The average cost of a solar panel system in Riverside is 4 per watt.The average Riverside homeowner needs a 4.5-kilowatt system, which would cost about $11,749 with the federal tax credit, or $16,801 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $23,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Riverside
| Year | Return on Investment |
|---|---|
| 1 years | $-9,905 |
| 3 years | $-6,217 |
| 5 years | $-2,529 |
| 7 years | $1,159 |
| 9 years | $4,847 |
| 11 years | $8,535 |
| 13 years | $12,223 |
| 15 years | $15,911 |
| 17 years | $19,599 |
| 19 years | $23,287 |
| 21 years | $26,975 |
| 23 years | $30,663 |
| 25 years | $34,351 |
Top Solar Installers in Riverside
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be hard. Another perk of utilizing a solar company is that they can help you optimize your ROI by cutting back on future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Riverside
Factors that Affect Solar Panel Costs in Riverside
There are many factors that can influence 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
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Riverside homeowners opt to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into your budget.
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 | $19,840 | 11.3 years |
| 8 kW | $3.83 | $21,420 | $26,874 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $34,117 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,571 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $49,234 | 10.4 years |
| 16 kW | $3.52 | $39,480 | $57,108 | 10.2 years |
| 18 kW | $3.45 | $43,470 | $65,191 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $73,485 | 9.8 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your overall 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 keep in mind, including:
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two 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 previous customers.
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 Riverside, CT Solar Cost FAQs
How much does it cost to install solar panels in Riverside?
The average cost of solar panels in Riverside 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Riverside is currently $502,278, which means you can look forward to a value of about $20,593 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Riverside is a rewarding investment.
How long do solar panels last in Riverside?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.