Catamount Solar

Apr 24, 2023

Electricity Rates Are High in Vermont, Solar Panels Could Help Vermont residents face some of the highest electricity rates in the country. Solar panels could be key to long-term energy savings. Faith Foushee CNET Contributor Faith Foushee is a CNET contributor and a writer for our sister publication SaveOnEnergy.com, covering energy-efficient products, renewables and other energy topics. She enjoys learning about new energy technology and helping others save money. Faith graduated from High Point University with a bachelor's degree in strategic communication. 5 min read ErikaMitchell / Getty Images Vermont has some of the highest electricity rates, nearly 20 cents per kilowatt-hour in January 2023 , according to SaveOnEnergy, CNET's sister site. Since the Green Mountain State already produces a significant chunk of its electricity from the sun -- accounting for 16% of its in-state power generation in 2021, according to the US Energy Information Administration -- investing in a solar panel system that covers your home's energy needs can save you thousands on electricity. Here's a breakdown of solar installers and tax incentives in your area. Vermont solar panel costs The total cost of a solar panel system in Vermont depends on the number of solar panels , installation fees and additional equipment, like solar batteries . Find Energy estimates the average price per watt in Vermont for an 8.6 kW size solar system is $3.99. This price is higher than the US average of $2.99 per watt for a similar sized system (8 kW). The solar system size needed may vary whether you plan to fully or partially cover your home's energy needs. The following table compares the typical cost in Vermont versus the US average cost using 2022 data from the consulting firm Wood Mackenzie .The total listed is before any tax incentives or rebates. Vermont vs. the US Solar financing options for Vermont residents Choose a payment option based on your budgeting needs. Each of the following may have benefits or drawbacks, so take time to evaluate the best fit for you. Cash: A cash purchase provides the largest return on investment, but upfront costs are major. You'll have to have a lot of money in the bank to be able to pay for a solar panel system all at once. Loan: Loans have lower upfront costs, but interest and fees accumulate over time. As with a cash purchase, you'll own the solar panels and benefit from the tax credits. You'll likely have your choice of loans. Your installer will likely have a loan option for you. You can also get another loan from a bank or lender, such as a home equity loan , but that comes with more risks if you don't pay it back. Lease or power purchase agreement: Solar leases and power purchase agreements are options for a monthly payment with little to no maintenance. In a solar lease, you pay a fixed monthly price, but with a power purchase agreement, you pay a monthly bill determined by how much energy you use from the panels. You won't own the panels, meaning the solar company that does will benefit from the tax credit. Your savings over time also might not be as significant as if you own the panels outright. Vermont solar panel incentives and rebates Installing solar panels and equipment is a considerable investment for your home. Luckily, tax credits and other incentives are available in Vermont to reduce the total costs. The federal solar tax credit, known as the residential clean energy credit , gives a 30% credit on your next return for the cost of your solar system. Local incentives are also available. Here are a few you should know. Vermont solar incentives Receive a 30% federal tax credit on your next return for purchasing a solar panel system. Applies to solar equipment installed between the beginning of 2022 and through 2032. It will drop to 26% in 2033, then 22% in 2034 and expire in 2035 unless it is renewed. Solar panel companies in Vermont Solar panels are a big purchase, and like any big purchase, you need to shop around and consider your choices carefully. Here are some local and national solar companies to consider based on our research and CNET's list of best solar companies . Catamount Solar A local solar installer operating in New Hampshire and Vermont, Catamount Solar helps families, farms and businesses choose solar energy. Catamount Solar says it donates 5% of its yearly profits to Vermont-based organizations to support basic human needs, arts, the environment and climate change efforts. Its team of certified professionals installs solar panels and solar batteries, like the Tesla Powerwall . In partnership with the Vermont State Employees' Credit Union, the company offers a Vermont-specific loan . Green Mountain Solar Located in South Burlington, Vermont, Green Mountain Solar provides residential and commercial solar services completed by its  in-house teams. The company installs well-known products like REC and Q Cells solar panels, Enphase inverters and the Tesla Powerwall solar battery. In addition to manufacturer warranties, Green Mountain Solar includes a 12-year quality of work warranty. Financing is available with local lenders. Sunrun Sunrun is one of the largest residential solar and battery service companies in the US. The company specializes in solar leases but also offers loans and full purchases. Sunrun offers a warranty that includes free equipment replacement and repairs. Installations come with a mySunrun account to monitor your solar system, track or make payments and manage account preferences. Sunrun's service includes a 10-year quality of work warranty along with product manufacturer warranties. SunPower Solar Headquartered in California , SunPower Solar is a nationwide solar company offering solar products and services. It manufactures some of its own products, including Maxeon solar panels and SunVault solar batteries. These products may have a higher price tag, but the warranty guarantees solar panel production at 92% capacity after 25 years. Most competitors only guarantee up to 85% production after 25 years. Installation factors to consider Keep in mind the following things to consider when deciding if solar energy is right for your home. Solar considerations Are you a renter? Homeowners can choose to add solar panels to their homes, while renters may have more restrictions. Renters can subscribe to community solar programs. Where is your home located? Solar panels operate best in direct sunlight for at least four hours a day. If your home is often shaded, the panels will generate less energy. What is your roof condition? Installers should inspect your roof during a consultation to recommend any needed maintenance or repairs. Have you checked your homeowner association or neighborhood rules? HOAs in Vermont can not prohibit solar panels, but there may be some restrictions. Review your HOA or other neighborhood association rules about solar panels and placement before installation. Does your insurance cover solar panels? Contact your homeowner's insurance company to ensure your policy includes solar panels. Vermont solar power FAQs What is the cost of solar in Vermont? The average cost of a solar system in Vermont is $34,314. The exact cost for your home will depend on solar system size, roof repairs and other factors. If you want a solar panel system that covers your home energy needs, the size and price may be greater than those only covering partial needs. Are there Vermont solar incentives? Yes, there are solar incentives available in Vermont, including a net metering program, sales tax exemption, property tax exemption and a state tax credit. Additionally, Vermont residents may apply for the federal residential clean energy credit for a 30% credit on their next tax return. How can I find a solar installer in Vermont? Take time to explore the options that best fit your needs by reviewing customer testimonials and receiving quotes from multiple companies. Start by checking the local and national companies listed on this page and CNET's picks for the best solar companies .