Hartford, Connecticut residents pay some of the highest electric rates in the country. The average electricity rate in Connecticut is $0.22/kWh. As a result, even after consuming only an average of 713 kWh/month, homeowners pay slightly over $156/month. Homeowners in Hartford, Connecticut, are rapidly shifting to solar power, which can bring huge savings for them.
While the savings more than justify the installation costs and add up to sizeable returns, the upfront costs may pose a challenge to some homeowners. A typical residential solar power system costs an average of $21,000 before claiming any incentives, credits, or tax breaks.
Let’s understand the factors contributing to home solar costs, and how homeowners can bring them down and bring the dream of going solar within reach.
Choosing the Appropriate Size
Your residential solar system should be able to meet the energy demands of your home. If your energy needs are more or less than 713kWh/month, your costs can go up or down proportionately. You should consult an expert to size your solar system. In states like Connecticut, where electricity costs are high, paying more for a solar installation will be profitable in the long run.
Installing a smaller system might save a few hundred dollars upfront. However, homeowners will lose thousands of dollars in the long run as they pay high utility prices to compensate for the gap in solar power. Eventually, it will bring down the value of the entire solar project.
Picking the Right Brand
A major contributor to the cost of solar installations is the cost of solar panels. They are available for a range of prices. While more expensive brands increase set-up costs, they usually deliver more durability, higher efficiency, and better service.
Hartford, Connecticut, has its fair share of storms and hurricanes. Investing in a durable panel with a good warranty is a sensible choice.
Homeowners also need to consider the cost of add-ons like battery storage. In areas prone to blackouts, solar batteries may be a necessity more than an add-on, which will add to the project’s cost.
Researching Incentives & Financing Options
There are plenty of options available to homeowners on a budget when it comes to the upfront costs of solar power systems. There are multiple tax incentives that they may be eligible for to help bring the installation costs down. They should also opt for one of the many financing options available. They can get a solar loan, lease, or power purchase agreement (PPA) from a solar power company like Green Power Energy.
With its team of experts and strong local presence, GPE can offer you the best financing options, assist you in choosing the right size of the solar system, maneuver tax incentives, and pick out a trusted brand of solar panels and add-ons.