Solar Panel Cost Guide in Lebanon, CT (2024 Update)
- Lebanon Solar Installation Cost: $11,856
- 25-Year Savings: $18,939
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Lebanon
Find out what the average cost of solar panels are in Lebanon.
The national average cost of solar panels is $2.66 per watt, but in Lebanon it’s 4 per watt.The average Lebanon homeowner needs a 4.5-kilowatt system, which would cost about $11,856 with the federal tax credit, or $16,954 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lebanon homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $23,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lebanon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,012 |
| 3 years | $-6,324 |
| 5 years | $-2,636 |
| 7 years | $1,052 |
| 9 years | $4,740 |
| 11 years | $8,428 |
| 13 years | $12,116 |
| 15 years | $15,804 |
| 17 years | $19,492 |
| 19 years | $23,180 |
| 21 years | $26,868 |
| 23 years | $30,556 |
| 25 years | $34,244 |
Top Solar Installers in Lebanon
Installing solar panels on your own can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your location and energy use, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are several licensed solar professionals that can take care of your solar installation project. 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Lebanon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,750 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Lebanon offer solar loans, which reduce your upfront costs of installing a solar system.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Lebanon, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $20,539 | 11.1 years |
| 8 kW | $3.83 | $21,420 | $27,805 | 10.9 years |
| 10 kW | $3.75 | $26,250 | $35,282 | 10.7 years |
| 12 kW | $3.67 | $30,870 | $42,968 | 10.5 years |
| 14 kW | $3.60 | $35,280 | $50,865 | 10.2 years |
| 16 kW | $3.52 | $39,480 | $58,971 | 10.0 years |
| 18 kW | $3.45 | $43,470 | $67,287 | 9.8 years |
| 20 kW | $3.38 | $47,250 | $75,814 | 9.6 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 select the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Reputation: Make sure your solar system 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.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though 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.