Solar Panel Cost Guide in East Lyme, CT (Dec 2022)

  • East Lyme Solar Installation Cost: $8,859
  • 25-Year Savings: $18,624
  • Payback Period: 8.1 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in East Lyme

Let's have a look at the average cost of solar in East Lyme.

The average cost of solar panels in East Lyme is $3 per watt. To account for the typical energy needs of the average home in East Lyme, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $8,859, or $6,556 after the federal solar tax credit of 30% is applied.

These figures are just estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you want to go with. With typical savings of about $23,000 on power bills over 20 years, many homeowners in East Lyme find installing solar panels can be quite rewarding.

To see your potential savings and connect with a local solar company, click the button below.

Solar savings over time in East Lyme

Year Return on Investment
1 years $-7,760
3 years $-5,561
5 years $-3,363
7 years $-1,164
9 years $1,035
11 years $3,233
13 years $5,432
15 years $7,631
17 years $9,829
19 years $12,028
21 years $14,227
23 years $16,425
25 years $18,624

Top Solar Installers in East Lyme

Although it's possible to install solar panels on your own, it takes extra effort and know-how. That's one of the reasons most people choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.

Working with a licensed solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in East Lyme

Factors that Affect Solar Panel Costs in East Lyme

There are several criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,800 per kilowatt in East Lyme. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons 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 out of reach, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. 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're only able to 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 considerably.

Solar Panel Installation Company

The solar installer you select will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that has the products, warranties and services you want and also is within your budget.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $2.91 $12,230 $24,278 8.4 years
8 kW $2.86 $15,994 $32,685 8.2 years
10 kW $2.80 $19,600 $41,248 8.1 years
12 kW $2.74 $23,050 $49,968 7.9 years
14 kW $2.69 $26,342 $58,845 7.7 years
16 kW $2.63 $29,478 $67,878 7.6 years
18 kW $2.58 $32,458 $77,069 7.4 years
20 kW $2.52 $35,280 $86,416 7.2 years

How to Save on Solar Panels

There are numerous companies available in East Lyme, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Warranty: If you care about the durability of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • 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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's East Lyme, CT Solar Cost FAQs

What is the average cost of installing solar panels in East Lyme?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $14,000 for a 5-kW system and $28,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in East Lyme?

Solar panels aren't free in East Lyme, 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.

Is it worth going solar in East Lyme?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.

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