Solar Panel Cost Guide in Mystic, CT (2024 Update)
- Mystic Solar Installation Cost: $11,856
- 25-Year Savings: $18,299
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Mystic
We go over average solar pricing in Mystic.
The average cost of a solar panel system in Mystic is 4 per watt.The average solar panel system size in Mystic is around 4.5 kilowatts, meaning a cost of about $11,856 for a solar installation, or $16,954 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may differ based on factors unique to your home and what company you want to go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $23,000 over 20 years on utility bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mystic
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-6,324 |
| 5 years | $-2,636 |
| 7 years | $1,052 |
| 9 years | $4,740 |
| 11 years | $8,428 |
| 13 years | $12,116 |
| 15 years | $15,804 |
| 17 years | $19,492 |
| 19 years | $23,180 |
| 21 years | $26,868 |
| 23 years | $30,556 |
| 25 years | $34,244 |
Top Solar Installers in Mystic
When making the switch to solar, many homeowners opt to go with a solar company since installing solar panels yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you're searching for a solar installer in Mystic, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Mystic
Factors that Affect Solar Panel Costs in Mystic
While the average cost of a solar system in Mystic is $11,856, your final cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of solar panels in Mystic, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $3,750 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Mystic average.
Solar Financing Terms
Most solar companies in Mystic provide solar loans, which reduce the initial cost of installing solar panels.Though solar loans make switching to solar energy more accessible for Mystic homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much it costs. Mystic’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Mystic know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,688 | 11.4 years |
| 8 kW | $3.83 | $21,420 | $26,671 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $33,863 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,266 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $48,879 | 10.5 years |
| 16 kW | $3.52 | $39,480 | $56,702 | 10.3 years |
| 18 kW | $3.45 | $43,470 | $64,734 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $72,977 | 9.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Mystic, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Mystic, CT Solar Cost FAQs
What is the average cost of installing solar panels in Mystic?
The average cost of solar panels in Mystic 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 model 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 upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Mystic have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.