Solar Panel Cost Guide in Old Saybrook, CT (Dec 2022)

  • Old Saybrook Solar Installation Cost: $8,898
  • 25-Year Savings: $18,121
  • Payback Period: 8.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Old Saybrook

Find out what the average cost of installing solar panels is in Old Saybrook.

In Old Saybrook, solar panels cost about $3 per watt on average. The average solar panel system size in Old Saybrook is around 4.5 kilowatts, meaning a cost of about $8,898 for a solar installation, or $6,585 after the 30% federal solar tax credit is applied.

The actual price you pay can go higher or lower than the average in Old Saybrook based on several factors, such as the type of solar panels you choose and the solar company you hire. With average savings of about $23,000 on energy bills over 20 years, many homeowners in Old Saybrook find going solar can pay off big.

You can click the button below to get connected with a pre-vetted solar installer in Old Saybrook that can help you get a more accurate cost estimate for your home.

Solar savings over time in Old Saybrook

Year Return on Investment
1 years $-7,818
3 years $-5,656
5 years $-3,494
7 years $-1,333
9 years $829
11 years $2,990
13 years $5,152
15 years $7,313
17 years $9,475
19 years $11,636
21 years $13,798
23 years $15,960
25 years $18,121

Top Solar Installers in Old Saybrook

When switching to solar energy, many homeowners prefer to use a solar installation company since DIY solar panel installation can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some 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 Saybrook

Factors that Affect Solar Panel Costs in Old Saybrook

Even though the average cost of a solar system in Old Saybrook is $8,898, your final cost may be above or below the average. There are many 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

When it comes to estimating the cost of a solar panel system in Old Saybrook, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,800 for each additional kilowatt you need. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Old Saybrook to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The solar panel installer you pick will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Old Saybrook have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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 $23,511 8.6 years
8 kW $2.86 $15,994 $31,661 8.4 years
10 kW $2.80 $19,600 $39,968 8.2 years
12 kW $2.74 $23,050 $48,432 8.1 years
14 kW $2.69 $26,342 $57,053 7.9 years
16 kW $2.63 $29,478 $65,831 7.7 years
18 kW $2.58 $32,458 $74,765 7.6 years
20 kW $2.52 $35,280 $83,856 7.4 years

How to Save on Solar Panels

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

  • Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 past customers.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
  • Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the 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 Saybrook, CT Solar Cost FAQs

What is the average cost of installing solar panels in Old Saybrook?

This is a difficult question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Old Saybrook?

Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.

Can solar panels completely eradicate my power bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Old Saybrook, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Old Saybrook?

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 their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using 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.

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