Solar Panel Cost Guide in Lebanon, CT (Mar 2023)
- Lebanon Solar Installation Cost: $8,859
- 25-Year Savings: $18,933
- Payback Period: 8.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lebanon
Let's take a look at the average cost of solar panels in Lebanon.
In Lebanon, solar panels cost about 2.8 per watt on average. To account for the typical energy needs of the average home in Lebanon, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $8,859, or $12,668 before the federal solar tax credit of 30% is applied.
These figures are just averages, and your own solar costs may look different based on the amount of energy your home requires and what company you choose to go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar company in Lebanon that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-7,748 |
| 3 years | $-5,524 |
| 5 years | $-3,301 |
| 7 years | $-1,077 |
| 9 years | $1,146 |
| 11 years | $3,369 |
| 13 years | $5,593 |
| 15 years | $7,816 |
| 17 years | $10,039 |
| 19 years | $12,263 |
| 21 years | $14,486 |
| 23 years | $16,709 |
| 25 years | $18,933 |
Top Solar Installers in Lebanon
Many homeowners choose to hire a solar panel company since trying to install solar panels yourself can be hard. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,800. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Lebanon, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lebanon to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. 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 finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Lebanon, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Lebanon are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.91 | $12,230 | $24,689 | 8.3 years |
| 8 kW | $2.86 | $15,994 | $33,232 | 8.1 years |
| 10 kW | $2.80 | $19,600 | $41,932 | 8.0 years |
| 12 kW | $2.74 | $23,050 | $50,789 | 7.8 years |
| 14 kW | $2.69 | $26,342 | $59,802 | 7.6 years |
| 16 kW | $2.63 | $29,478 | $68,973 | 7.5 years |
| 18 kW | $2.58 | $32,458 | $78,300 | 7.3 years |
| 20 kW | $2.52 | $35,280 | $87,784 | 7.2 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lebanon, CT Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a hard question to answer exactly, because the cost depends on many 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Lebanon?
You can't get solar panels for free in Lebanon. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Lebanon, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.