Solar Panel Cost Guide in Lisbon, CT (2023 Update)
- Lisbon Solar Installation Cost: $8,853
- 25-Year Savings: $20,843
- Payback Period: 7.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lisbon
We go over average solar pricing in Lisbon.
Although the national average of solar panels is $2.66 per watt, solar panels in Lisbon typically cost around 2.8. To account for the typical energy needs of the average home in Lisbon, 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.
Keep in mind that the figures above are only estimates based on the average energy use of Lisbon homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $25,000 on utility bills over 20 years, many homeowners in Lisbon find going solar can pay off big.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lisbon
| Year | Return on Investment |
|---|---|
| 1 years | $-8,754 |
| 3 years | $-8,556 |
| 5 years | $-8,358 |
| 7 years | $-8,160 |
| 9 years | $-7,962 |
| 11 years | $-7,764 |
| 13 years | $-7,566 |
| 15 years | $-7,368 |
| 17 years | $-7,170 |
| 19 years | $-6,972 |
| 21 years | $-6,774 |
| 23 years | $-6,576 |
| 25 years | $-6,378 |
Top Solar Installers in Lisbon
Many homeowners opt for a solar installer since figuring out how to install solar panels yourself can be hard. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a professional solar installer can help your solar project go smoothly. 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
See all of the solar companies in Lisbon
Factors that Affect Solar Panel Costs in Lisbon
There are several factors that can affect 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
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,800. The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Lisbon homeowners opt to finance their solar panel systems to offset upfront costs. 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 can only 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 APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Lisbon is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The model of solar panel you need to get plays a role in which installer you should choose, since different companies offer different panels.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lisbon, CT Solar Cost FAQs
How much does it cost to install solar panels in Lisbon?
This is a difficult question to answer exactly, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lisbon?
Solar panels aren't free in Lisbon, 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 can help lower the cost.
Is it worth going solar in Lisbon?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Lisbon?
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 choose to replace them after having them for that long or you can continue to use 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.