Solar Panel Cost Guide in Old Mystic, CT (Jan 2023)

  • Old Mystic Solar Installation Cost: $8,859
  • 25-Year Savings: $18,380
  • Payback Period: 8.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Old Mystic

Let's take a look at the average cost of solar panels in Old Mystic.

The average cost of a solar panel system in Old Mystic is $3 per watt. The average solar panel system size in Old 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 prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what installation company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Old Mystic homeowners see about $23,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a top solar installer in Old Mystic for a quote for your home.

Solar savings over time in Old Mystic

Year Return on Investment
1 years $-7,770
3 years $-5,591
5 years $-3,411
7 years $-1,232
9 years $947
11 years $3,126
13 years $5,305
15 years $7,484
17 years $9,663
19 years $11,842
21 years $14,022
23 years $16,201
25 years $18,380

Top Solar Installers in Old Mystic

Although it's possible to install solar panels on your own, it takes extra effort and expertise. Because of that, almost all homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

If you'd like to switch to solar energy but still aren't sure which solar panel company to go with, here are our recommendations for providers near you:

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

Tesla Energy

★★★★★
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 Old Mystic

Factors that Affect Solar Panel Costs in Old Mystic

Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Old Mystic: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

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 important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. 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

For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Old Mystic, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Old Mystic, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $23,954 8.4 years
8 kW $2.86 $15,994 $32,253 8.3 years
10 kW $2.80 $19,600 $40,708 8.1 years
12 kW $2.74 $23,050 $49,320 8.0 years
14 kW $2.69 $26,342 $58,089 7.8 years
16 kW $2.63 $29,478 $67,014 7.6 years
18 kW $2.58 $32,458 $76,097 7.5 years
20 kW $2.52 $35,280 $85,336 7.3 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Reputation: Your solar installer should have a solid reputation as a company and have proven 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 positive reviews from previous customers.
  • Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
  • Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.

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

Tesla Energy

★★★★★
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 Old Mystic, CT Solar Cost FAQs

How much does it cost to install solar panels in Old Mystic?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas 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.

How will solar panels impact my property value?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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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