Solar Panel Cost Guide in Prospect, CT (2023 Update)
- Prospect Solar Installation Cost: $8,874
- 25-Year Savings: $18,146
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Prospect
Find out what the average cost of a solar system is in Prospect.
The average cost of solar panels in Prospect is 2.8 per watt. The average solar panel system size in Prospect is around 4.5 kilowatts, meaning a cost of about $8,879 for a solar installation, or $12,697 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Prospect depending on several factors, such as the kind of solar panels you choose and the solar company you hire. With average savings of about $23,000 on electricity bills over 20 years, many homeowners in Prospect find going solar can pay off big.
Click the button below to get connected to a top solar company in your area for a personalized estimate.
Solar savings over time in Prospect
| Year | Return on Investment |
|---|---|
| 1 years | $-7,030 |
| 3 years | $-3,342 |
| 5 years | $346 |
| 7 years | $4,034 |
| 9 years | $7,722 |
| 11 years | $11,410 |
| 13 years | $15,098 |
| 15 years | $18,786 |
| 17 years | $22,474 |
| 19 years | $26,162 |
| 21 years | $29,850 |
| 23 years | $33,538 |
| 25 years | $37,226 |
Top Solar Installers in Prospect
Installing solar panels on your own can be a challenging task, which is why using a solar installer is a good option for many homeowners. Another perk of utilizing a solar company is that they can help you maximize your investment by cutting back on future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Prospect
Factors that Affect Solar Panel Costs in Prospect
For many Prospect homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Prospect, with typical prices between $20,000 to $40,000. There are a number of 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 determines the overall cost of installing solar panels. That's why it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get 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
Most solar companies in Prospect have solar loans, which reduce the initial cost of installing solar panels. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect how much you pay. Prospect's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $23,577 | 8.5 years |
| 8 kW | $2.86 | $15,994 | $31,750 | 8.4 years |
| 10 kW | $2.80 | $19,600 | $40,079 | 8.2 years |
| 12 kW | $2.74 | $23,050 | $48,565 | 8.0 years |
| 14 kW | $2.69 | $26,342 | $57,208 | 7.9 years |
| 16 kW | $2.63 | $29,478 | $66,008 | 7.7 years |
| 18 kW | $2.58 | $32,458 | $74,964 | 7.6 years |
| 20 kW | $2.52 | $35,280 | $84,078 | 7.4 years |
How to Save on Solar Panels
There are a lot of companies available in Prospect, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Prospect, CT Solar Cost FAQs
How much does it cost to install solar panels in Prospect?
The average cost of solar panels in Prospect 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Prospect?
You can't get solar panels for free in Prospect. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Prospect, that will require at least a 10-kW system. Not all homes can accommodate 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 often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had 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.