Solar energy is becoming more commonplace around the United States. In Connecticut, there are more than 130,000 home solar systems already installed – and that number is growing. Currently, Connecticut ranks 20th nationally for solar energy.
Solar energy is a renewable power source that can lower your carbon footprint and help you save on energy bills. If you live in Connecticut, it may be time to consider investing in solar energy to power your home or business.
Connecticut solar panel cost
The average cost of solar panels in 2021 is between $11,700 – $19,500. This is based on the fact that the average home uses 5kW (5,000 watts) at an average rate of $4.00/watt. But, there are also local and federal tax incentives that can help lower the overall cost of solar panels for your home.
Why choose Connecticut solar power?
There are many reasons to consider investing in solar panels in Connecticut. Here are just a few:
Lower energy costs
With Connecticut solar power, expensive utility bills can be a thing of the past, especially in those cold winter months. Solar energy can lower your monthly energy bills, improve your home’s value, save on energy usage, and save a lot of money over time.
Establish energy independence
With Connecticut solar power, you can establish energy independence for you and your family. Energy independence frees you from the worries often associated with relying on the traditional power grid. By investing in solar power, you won’t have to worry about energy rate spikes during times of high demand and you can retain power when there is an outage.
One of the biggest motivators for people switching to solar panels in Connecticut is because of the desire to power their home with renewable energy sources. With solar energy, you can reduce the environmental footprint of your home by making this investment, rewarding not just your wallet, but your environment. It can also inspire your neighbors to make the switch to green energy themselves, which will lead to a larger impact overtime.
Connecticut solar panel incentives or rebates
Making the switch to solar can save you money on your taxes. This is because there are many solar incentives and rebates at the federal and state levels. These incentives and rebates can help offset the upfront cost of buying solar panels, so that you don’t need to wait to complete your payback period to start experiencing the solar savings.
To start, in the United States, there is a federal tax credit that’s offered for home solar energy. The way this works is that homeowners who install solar panels on their primary or secondary residence can claim a 26 percent tax credit for systems installed in 2021. There is not a maximum limit set on this credit. This tax credit is set to expire in 2024, so homeowners should take advantage of these savings while they can.
There are also the local and state solar incentives for Connecticut. At the state level, Connecticut offers rebates on solar panel purchases in the form of specific state programs, such as the Residential Solar Investment Program by Green Bank. There are also solar loan programs to help you convert your system without having to worry about covering the initial upfront investment.
Additionally, there are tax breaks for solar energy, including a 100 percent exemption for those who invest in solar panels in Connecticut. And, for all that extra energy you get, Connecticut has a net metering program so you can receive credit when your system generates extra power.
Should I buy or lease my solar panels?
Buying solar panels in Connecticut will likely save you a lot more money over time than leasing solar panels. However, even with all the tax rebates and incentives, it’s understandable that buying solar panels can be a bit of a scary investment for people. For consumers who are unable to purchase a solar system, there is the option to lease solar panels instead of buying them outright. There are also shared community solar programs in Connecticut.
That being said, there are a few reasons why buying solar panels will lead to bigger savings in the long run. Purchasing solar panels will increase your home’s resale value by $15,000, which you will not experience if you lease them. What’s more, leasing solar panels means you will not be eligible for tax credits or rebates.
Connecticut solar panel companies
There are a wide variety of solar panel companies in Connecticut. With so many options, it’s hard to know where to begin. You can use the solar resources on SaveOnEnergy to familiarize yourself with the solar industry before making your decision. Once you begin to research the best solar installers in Connecticut, be sure to read customer reviews, check the business’s history, and ask about solar warranties.
The history of solar power in Connecticut
Though solar energy has been around for quite some time now, it still feels very new. Learning more about the history of solar power in Connecticut can perhaps make you feel more comfortable with making the choice to switch to solar.
Connecticut is in the top 50 states for solar energy. There are 140 solar companies in Connecticut as well as notable solar farms – like East Lyme Solar Park – which has the capacity to generate 5 MW of electricity, or nearly 700 homes.
Solar energy is growing in popularity with Connecticut residents, but the transition is gradual. The growth of solar energy is projected at 1,002 MW over the next 5 years.
Important solar installation factors to consider
When making the switch to solar, there are several important factors to consider in order to make sure you’re making the right investment:
- Solar panels work best when paired with south-facing roofs that are sloped between 15 and 40 degrees. Consider your roof before investing in solar panels.
- Unsurprisingly, the amount of sun in your state has an impact on how efficient your solar panels are. It should be noted that solar panels do still work in indirect sunlight, but are most efficient when they’re located in a sunny environment.
- Consider whether you will need to meet any HOA or neighborhood requirements before signing a purchase agreement.
Solar power FAQs
How much would solar cost in Connecticut?
In the state of Connecticut, solar panels costs range between $15,000 and $25,000 before tax credits, or $3-5/watt.
Is solar power a good investment in Connecticut?
Investing in solar panels for your home could lead to savings in the long run. This will depend on several factors, including your location, weather patterns, and your energy usage habits. See the section above for more information on the types of factors to consider before investing in solar.
How much could I save by investing in solar?
By investing in solar, you can save $1,100 on household utility bills, or $20,000 over 20 years.
Where can I find a good solar panel installer in Connecticut?
SaveOnEnergy can help you learn about the solar industry, which will prepare you for finding the best solar panel company in Connecticut. When searching for a solar installer, remember to thoroughly research all of your options, read reviews, and ask about solar warranties before signing a contract.
How does solar power help the environment?
Solar power doesn’t emit carbon dioxide and is a renewable resource. By investing in solar panels, you lower your home’s carbon footprint and help reduce the amount of carbon emitted into the atmosphere.