Solar Panel Cost Guide in Lebanon, CT (Oct 2022)

  • Lebanon Solar Installation Cost: $8,859
  • 25-Year Savings: $18,933
  • Payback Period: 8.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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 $3 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 $6,556 after 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 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

The Green Panel

★★★★★
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 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 Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size. 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

Solar Incentives in Lebanon

Name Sales and Use Tax Exemption for Solar and Geothermal Systems
Incentive Amount 100% exemption
More Info Click here

Name Residential Solar Investment Program
Website Visit here
More Info Click here

Name Connecticut Green Energy Building Solutions
Incentive Amount
Website Visit here
More Info Click here

Name Smart-E loans
Incentive Amount
Website Visit here
More Info Click here

Name Local Option - Property Tax Exemption for Renewable Energy Systems
Incentive Amount Local Option
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Sales and Use Tax Exemption for Energy-Efficient Products
Incentive Amount 100% exemption
More Info Click here

Name Energy Conservation Loan
Website Visit here
More Info Click here

Name The United Illuminating Company - Small ZREC Tariff
Website Visit here
More Info Click here

Name Eversource - Small ZREC Tariff
Website Visit here
More Info Click here

Name (Electric and Gas) Residential Rebate Program
Website Visit here
More Info Click here

Name Local Option - Residential Sustainable Energy Program
Incentive Amount Locally determined
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 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

The Green Panel

★★★★★
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 Lebanon, CT Solar Cost FAQs

How much does it cost to install solar panels in Lebanon?

The average cost of solar panels in Lebanon is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Lebanon?

A solar panel system isn't free in Lebanon, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Is switching to solar power worth it?

Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.

How often do you have to replace solar panels?

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.

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