Solar Panel Cost Guide in Prospect, CT (2024 Update)
- Prospect Solar Installation Cost: $11,885
- 25-Year Savings: $18,146
- Payback Period: 11.0 Years
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Average Cost of Solar Panels in Prospect
Let’s have a look at the average cost of solar in Prospect.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Prospect, the typical cost of a solar system is 4 per watt.The average solar panel system size in Prospect is around 4.5 kilowatts, meaning a cost of about $11,885 for a solar installation, or $16,996 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with.Even with the high upfront cost, the average Prospect homeowner can save around $23,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar panel company in Prospect for a custom quote.
Solar savings over time in Prospect
| Year | Return on Investment |
|---|---|
| 1 years | $-10,041 |
| 3 years | $-6,353 |
| 5 years | $-2,665 |
| 7 years | $1,023 |
| 9 years | $4,711 |
| 11 years | $8,399 |
| 13 years | $12,087 |
| 15 years | $15,775 |
| 17 years | $19,463 |
| 19 years | $23,151 |
| 21 years | $26,839 |
| 23 years | $30,527 |
| 25 years | $34,215 |
Top Solar Installers in Prospect
When making the switch to solar, many homeowners decide to hire a solar installation company since handling can be a difficult project. Also, if you’d like to maximize your investment in solar energy, using a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Prospect
Factors that Affect Solar Panel Costs in Prospect
While the average cost of a solar system in Prospect is $11,885, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,750. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Prospect average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Prospect, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.While solar loans make switching to solar energy more accessible for Prospect homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Prospect, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $19,427 | 11.4 years |
| 8 kW | $3.83 | $21,420 | $26,323 | 11.2 years |
| 10 kW | $3.75 | $26,250 | $33,429 | 11.0 years |
| 12 kW | $3.67 | $30,870 | $40,745 | 10.8 years |
| 14 kW | $3.60 | $35,280 | $48,270 | 10.6 years |
| 16 kW | $3.52 | $39,480 | $56,006 | 10.3 years |
| 18 kW | $3.45 | $43,470 | $63,952 | 10.1 years |
| 20 kW | $3.38 | $47,250 | $72,108 | 9.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should choose, since different companies provide different panels.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When making the switch to solar, it’s necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
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 Prospect, CT Solar Cost FAQs
What is the average cost of installing solar panels in Prospect?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Prospect?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Prospect?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Prospect?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.