The high cost of conventional electricity in Vermont has led to the popularity of solar panels in the state. The state offers various incentives such as tax exemption to those who have gone solar. Let’s take a look at the thriving Vermont solar companies and what you need to know about installation.
Vermont Solar System Installation Costs
The federal government provides a 30% federal tax credit on solar installation. Even after we dismiss that cost, the actual cost of the installation is somewhere around $12,636, and it can go as high as $17,465.
If we were to calculate it on a cost per watt basis, the range is $2.85 to $3.47. This variance in price depends on the part of the state you reside. Some solar companies charge more by considering the neighborhood you live in, too.
The overall size of the solar panel system also plays a hand in how much Vermont solar companies would charge you for it. Typically, if you are installing a large system, the cost per watt tends to be lower. This is because you would be getting the entire system at a bulk price. Even so, the total cost can still be high since you are counting individual panels into it.
The solar panel you’re buying also affects the cost. For residential installation, polycrystalline and monocrystalline are the two options. Polycrystalline is low in efficiency and thus costs less.
Monocrystalline has high efficiency to back up the steep cost. Buying something too inexpensive won’t do, as there’s a good chance the quality of the equipment would be poor. This would mean you’d have to pay for an unnecessary repair cost.
If it costs so much, you might wonder if installing it is worth it at all. If we look at the federal tax credit and metering law, you’re already saving a lot. Even without that, in just ten years, you will have saved up enough on electricity to cover the initial price you paid for installation. Plus, you will be able to continue saving more and more dollars with each passing year.
If you have enough financial stability to pay for solar panel installation with cash, that would be the best long-term investment for you. If you don’t feel secure enough to make a one-time purchase, there are still various mediums you can use to pay for your purchase. Your solar energy system can be financed with the help of a solar lease, PPA, or loan.
Average solar panel cost in Vermont
|
System size |
Avg system cost |
Avg system cost |
|
3 kW |
$8,750
|
$6,475 |
|
4 kW |
$11,980
|
$8,865 |
|
5 kW |
$15,050 |
$1,1137 |
|
6 kW |
$18,200 |
$13,468 |
|
7 kW |
$21,358 |
$15,805 |
|
8 kW |
$23,035 |
$17,786 |
|
9 kW |
$27,690 |
$20,491 |
|
10 kW |
$31,840 |
$23,562 |
Incentives, Tax Credits & Rebates For Vermont Solar Panels
Vermont has been promoting the renewable energy cause with vigor for some time. They are on a mission to get 75 percent of their energy source to be renewable by 2032. Their promotion tactics include offering various incentives and tax credits to the citizens to inspire them to opt for a greener life. Let’s take a look at the various schemes.
Vermont Net Metering
Under Vermont law, credit is provided by taking into account how much electricity your system produces. If your system generates more electricity than you need at that time, it will show up on your electricity bill later as credit.
Then, you can make use of the credit when there isn’t enough electricity in your system. However, if you don’t use the Kwh credits at all by the time your billing cycle ends, it will expire.
Federal Solar Tax Credits
As of now, the ITC in Vermont offers a 30 percent cost reduction on the installation of your solar system. However, this reduction can only be availed by those paying for the solar panel on outright purchase. This could include paying for it entirely in cash or using the solar loan. Your income should also be good enough for the tax credit to work.
Standard Offer Program
The VT Standard Offer Program works on a feed-in tariff system. The Customers who have installed a solar energy system in their homes get some amount in return based on per Kilowatt of energy manufactured by their system.
Tax Exemption
Most importantly, as a resident with solar panels installed in your home, there is no extra tax imposed on your system. The Property Tax Exemption means you don’t have to pay for the increase in property tax. The Renewable Energy Systems Sales Tax Exemption means when you purchase the system, you don’t have to pay any sales tax on it.
Community Solar Program
A community can share solar panel systems by installing them off-site. They can still earn credits and avail of other incentives for about ten years in this system.
What To Look For When Installing Solar Panels In Vermont
Before you go about installing solar panels on your roof, you should amp yourself up with knowledge of the installation system. A successful installation depends on a lot of factors. Let’s take a look at them.
Local Climate
This factor is obvious. Solar panels are dependent on the sunlight produced in a day to provide energy. If the local climate often experiences snow or rain, the efficiency of solar panels might be reduced. In Vermont, most areas experience sunny weather for the most part. Still, make sure to have a detailed conversation with your installer.
Sunny Days In Burlington, Vermont (data collected from 1961 to 2020)
|
Month |
Sunny
|
Partly Sunny |
Total days with sun |
|
January |
5 |
7 |
12 |
|
February |
3 |
6 |
9 |
|
March |
8 |
7 |
15 |
|
April |
6 |
9 |
15 |
|
May |
6 |
10 |
16 |
|
June |
6 |
12 |
18 |
|
July |
6 |
14 |
20 |
|
August |
7 |
13 |
20 |
|
September |
7 |
11 |
18 |
|
October |
7 |
9 |
15 |
|
November |
4 |
6 |
10 |
|
December |
4 |
7 |
11 |
|
Annual |
68 |
111 |
179 |
Peak Hours
Installing a solar panel will be a futile and costly task if your home doesn’t receive enough sunlight to turn it into energy. It also doesn’t matter how long it takes for the sun to set in your area, but rather the intensity of the light during the peak hours is more crucial.
A peak hour would be when the energy of the sunlight manages to touch the 1,000 watts of energy for every square meter. This indicates intense sunlight. The kind of sunlight that a solar panel can only receive if your system is facing the sun and it’s midday when the light reaches its true intensity.
In labs, the effectiveness of a solar panel is typically measured using 1000 W/m² in an hour. For states like Vermont, the average peak sun hours are 3.77 to 5.35 hours. This means wherever you are in Vermont, there’s a good chance you will be able to install solar panels without any worry.
Direction And Angle Of The Solar Panel
As we mentioned, the direction and angle at which the solar panel is situated have to be so that it can utilize the sunlight during peak hours. Your roof might not have the best angle, so discuss this with your installer properly.
Top 7 Vermont Solar Companies
1. Solaflect Energy
Solaflect Energy’s Solar Tracker costs somewhere between $16,000 to $20,000. The general feedback from the customer states fair pricing, a flexible installation process, and the decency of cleaning up after getting the job done. In case of snow, the tech people either come onsite or make remote adjustments.
Location: 326 Main St Suite 4, Norwich, VT, 05055
Phone: 802-649-3700
2. Sunrun Solar
Sunrun Solar especially seems to get praised for excellent customer service. They have an affordable rate, and they’re upfront about the expected expenditure of the whole process. They’re courteous whether you avail of their services or not. In the end, you would be more knowledgeable about solar systems.
Location: 1354 Marshall Ave, Williston, VT, 05495
Phone: 802-778-3264
3. SunCommon
Residents of Waterbury can’t praise SunCommon enough. The company was hailed as one of the best places for employment in Vermont. That speaks for itself. Additionally, they have a unique range of product designs. The staff is friendly, and the installation process is explained beforehand in great detail.
Location: 442 US-2, Waterbury Village Historic District, VT, 05676
Phone: 802-882-8181
4. Green Mountain Solar
Located in Williston, Green Mountain Solar has taken on some huge projects. Once you hand over the job, they take care of everything from the planning phase to trenching the meter line until the panels have been safely installed in the roof. They also take only a couple of days.
Location: 96 Commerce St, Williston, VT, 05495
Phone: 802-369-9149
5. Southern Vermont Solar
Once you team up with Southern Vermont Solar, you’re not only signing up for solar panel installation but also for a lifetime support team. They would work through the options with you and even help you understand your tax exemption options. They have a squeaky clean reputation.
Location: 654 Sweetwood Hill, Putney, VT, 05346
Phone: 802-387-0088
6. Catamount Solar
Catamount Solar seems to stick with the concept of achieving a greener future all the way through. Every year, they donate about 5 percent of their profit to various Non-profit organizations. They have a fair pricing system, and even years after installing the panels, their customers still attest to the quality of service.
Location: 4 Randolph Ave, Randolph, VT, 05060
Phone: 802-728-3600
7. AllEarth Renewables
Customers of AllEarth Renewables appear more than happy with the product. As one stated, even after five years, they haven’t received a power bill due to the wonderful solar trackers. Further, their customer service is satisfactory.
Location: 94 Harvest Ln Suite 101, Williston, VT, 05495
Phone: 802-872-9600
Final Thoughts
Due to the state’s emphasis on renewable energy, there are numerous solar companies in Vermont. Every other day, a citizen is installing solar panels in Vermont. Once you find a company with fair installation costs, the tax exemption and credits are there to get you through the rest.