Solar Panel Cost Guide in Mystic, CT (Sep 2022)

  • Mystic Solar Installation Cost: $8,859
  • 25-Year Savings: $18,292
  • Payback Period: 8.2 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 Mystic

Find out what the average cost of solar panels are in Mystic.

Although the national average of solar panels is $2.66 per watt, solar panels in Mystic generally cost around $3. The average solar panel system size in Mystic is around 4.5 kilowatts, meaning a cost of about $8,859 for a solar installation, or $6,556 after the 30% federal solar tax credit is applied.

The true price you pay can be above or below the average in Mystic depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on energy bills.

To see your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Mystic

Year Return on Investment
1 years $-7,773
3 years $-5,601
5 years $-3,429
7 years $-1,257
9 years $915
11 years $3,087
13 years $5,259
15 years $7,432
17 years $9,604
19 years $11,776
21 years $13,948
23 years $16,120
25 years $18,292

Top Solar Installers in Mystic

Many homeowners decide to hire a solar installation company since trying to put up solar panels on your own can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.

If you'd like to go solar but still aren't sure which solar installer to go with, here are our recommendations for providers nearby:

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 Mystic

Factors that Affect Solar Panel Costs in Mystic

Even though the average cost of solar panels in Mystic is $8,859, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment Size

The size of the solar system you need is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,800. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install 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 solar panels in cash is too expensive, solar loans are a popular route because they lower your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.

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 $23,838 8.5 years
8 kW $2.86 $15,994 $32,097 8.3 years
10 kW $2.80 $19,600 $40,513 8.2 years
12 kW $2.74 $23,050 $49,087 8.0 years
14 kW $2.69 $26,342 $57,816 7.8 years
16 kW $2.63 $29,478 $66,703 7.7 years
18 kW $2.58 $32,458 $75,747 7.5 years
20 kW $2.52 $35,280 $84,947 7.3 years

Solar Incentives in Mystic

Name Local Option - Residential Sustainable Energy Program
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Eversource - Small ZREC Tariff
Incentive Amount $100.74 per REC (for Year 7 round of solicitation)Tariff for Small ZREC determined through PURA
Website Visit here
More Info Click here

Name Energy Conservation Loan
Website Visit here
More Info Click here

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

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

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% exemption for renewable energy property
More Info Click here

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

Name Residential Solar Investment Program
Incentive Amount Customer-owned (EPBB):
Up to 10 kW PTC: $0.358/W
10 to 20 kW PTC: $0.207/W
Incentive is reduced accordingly for Design Factors below 75%. Minimum design factor is 60%.
Third-Party-Owned (PBI):
Up to 20 kW PTC: $0.03/kWh for 6 years
Minimum Design Factor 60%
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
  • Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
  • Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not 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: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.

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 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 $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 consume.

Is cost the most important consideration when buying solar panels?

Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Mystic?

Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.

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