Solar Panel Cost Guide in Thompson, CT (2025 Update)
- Thompson Solar Installation Cost: $12,271
- 25-Year Savings: $17,857
- Payback Period: 11.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Thompson
Find out how much it might cost to go solar in Thompson.
While the national average of solar panels is $2.66 per watt, solar panels in Thompson typically cost about 4.To cover the typical energy needs of the average home in Thompson, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,271, or $17,548 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with.Despite the large upfront cost, the average Thompson homeowner can save about $22,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Thompson
Year | Return on Investment |
---|---|
1 years | $-10,427 |
3 years | $-6,739 |
5 years | $-3,051 |
7 years | $637 |
9 years | $4,325 |
11 years | $8,013 |
13 years | $11,701 |
15 years | $15,389 |
17 years | $19,077 |
19 years | $22,765 |
21 years | $26,453 |
23 years | $30,141 |
25 years | $33,829 |
Top Solar Installers in Thompson
Although it's possible to install solar panels yourself, it involves extra labor and handiness. Because of that, most people choose to hire a solar panel installer. The expertise that solar installers provide can be valuable as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers in Thompson:
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 Thompson
Factors that Affect Solar Panel Costs in Thompson
The cost of installing a solar system in Thompson can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,301 | 11.8 years |
8 kW | $3.83 | $21,420 | $24,821 | 11.6 years |
10 kW | $3.75 | $26,250 | $31,551 | 11.4 years |
12 kW | $3.67 | $30,870 | $38,491 | 11.1 years |
14 kW | $3.60 | $35,280 | $45,641 | 10.9 years |
16 kW | $3.52 | $39,480 | $53,001 | 10.7 years |
18 kW | $3.45 | $43,470 | $60,572 | 10.4 years |
20 kW | $3.38 | $47,250 | $68,352 | 10.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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 Thompson, CT Solar Cost FAQs
What is the average cost of installing solar panels in Thompson?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Thompson?
A solar panel system isn’t free in Thompson, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Thompson is currently $340,884, so you can expect a value of about $13,976 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Thompson is a worthwhile investment.
How long do solar panels last in Thompson?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.