Solar Panel Cost Guide in Mystic, CT (2024 Update)
- Mystic Solar Installation Cost: $11,856
- 25-Year Savings: $18,299
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Mystic
We go over average solar pricing in Mystic.
The average cost of a solar panel system in Mystic is 4 per watt.The average Mystic 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.
The actual price you pay can be higher or lower than the average in Mystic depending on several factors, such as the type of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $23,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Mystic for a quote for your home.
Solar savings over time in Mystic
| 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 Mystic
Many homeowners decide to use a solar installation company since trying to install solar panels on your own can be hard. Plus, if you’re not certain what type of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in Mystic, we've organized a list of our top suggestions here:
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
See all of the solar companies in Mystic
Factors that Affect Solar Panel Costs in Mystic
For many Mystic homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Mystic, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Mystic, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Mystic provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $19,688 | 11.4 years |
| 8 kW | $3.83 | $21,420 | $26,671 | 11.1 years |
| 10 kW | $3.75 | $26,250 | $33,863 | 10.9 years |
| 12 kW | $3.67 | $30,870 | $41,266 | 10.7 years |
| 14 kW | $3.60 | $35,280 | $48,879 | 10.5 years |
| 16 kW | $3.52 | $39,480 | $56,702 | 10.3 years |
| 18 kW | $3.45 | $43,470 | $64,734 | 10.0 years |
| 20 kW | $3.38 | $47,250 | $72,977 | 9.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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
EcoWatch's Mystic, CT Solar Cost FAQs
How much does it cost to install solar panels in Mystic?
The average cost of solar panels in Mystic is about $18,750 for a 5-kW system and $37,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places 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.
Does Mystic have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.