Solar Panel Cost Guide in Lisbon, CT (Mar 2023)
- Lisbon Solar Installation Cost: $8,859
- 25-Year Savings: $20,837
- Payback Period: 7.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lisbon
Here's how much it might cost to switch to solar power in Lisbon.
In Lisbon, solar panels cost about 2.8 per watt on average. The average Lisbon homeowner needs a 4.5-kilowatt system, which would cost about $8,859 with the federal tax credit, or $12,668 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $25,000 over 20 years on utility bills.
You can click the button below to get connected with a top solar installer in Lisbon that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lisbon
| Year | Return on Investment |
|---|---|
| 1 years | $-7,671 |
| 3 years | $-5,296 |
| 5 years | $-2,920 |
| 7 years | $-544 |
| 9 years | $1,831 |
| 11 years | $4,207 |
| 13 years | $6,583 |
| 15 years | $8,958 |
| 17 years | $11,334 |
| 19 years | $13,710 |
| 21 years | $16,085 |
| 23 years | $18,461 |
| 25 years | $20,837 |
Top Solar Installers in Lisbon
Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be challenging. The expertise that solar installers provide can be useful as well, especially if you don't quite know what type of solar equipment you need.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
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 Lisbon
Factors that Affect Solar Panel Costs in Lisbon
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use 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. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installation company you select will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Lisbon are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $27,218 | 7.8 years |
| 8 kW | $2.86 | $15,994 | $36,604 | 7.6 years |
| 10 kW | $2.80 | $19,600 | $46,147 | 7.5 years |
| 12 kW | $2.74 | $23,050 | $55,847 | 7.3 years |
| 14 kW | $2.69 | $26,342 | $65,704 | 7.2 years |
| 16 kW | $2.63 | $29,478 | $75,717 | 7.0 years |
| 18 kW | $2.58 | $32,458 | $85,887 | 6.9 years |
| 20 kW | $2.52 | $35,280 | $96,214 | 6.7 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
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 Lisbon, CT Solar Cost FAQs
What is the average cost of installing solar panels in Lisbon?
This is a difficult question to answer precisely, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Lisbon?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.