Solar Panel Cost Guide in Mystic, CT (2023 Update)
- Mystic Solar Installation Cost: $8,859
- 25-Year Savings: $18,292
- Payback Period: 8.2 Years
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Updated March 14, 2023
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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 2.8. 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 $12,668 before 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 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 Mystic
Factors that Affect Solar Panel Costs in Mystic
Even though the average cost of a solar system 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
The size of the solar system you need, which is measured in kilowatts, 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 |
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 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 Mystic, CT Solar Cost FAQs
What is the average cost of installing 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 actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Mystic?
A solar panel system isn't free in Mystic, 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 further reduce the cost.
Does Mystic have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels 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 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.