Solar Panel Cost Guide in Prospect, CT (2024 Update)

  • Prospect Solar Installation Cost: $11,885
  • 25-Year Savings: $18,146
  • Payback Period: 11.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Prospect

Let’s have a look at the average cost of solar in Prospect.

The average cost of a solar system in Prospect is 4 per watt.The average solar panel system size in Prospect is around 4.5 kilowatts, meaning a cost of about $11,885 for a solar installation, or $16,996 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what company you go with.With typical savings of about $23,000 on power bills over 20 years, many homeowners in Prospect find investing in solar can pay off big.

Click the button below to get connected to a reputable solar installer in Prospect for a custom quote.

Solar savings over time in Prospect

Year Return on Investment
1 years $-10,041
3 years $-6,353
5 years $-2,665
7 years $1,023
9 years $4,711
11 years $8,399
13 years $12,087
15 years $15,775
17 years $19,463
19 years $23,151
21 years $26,839
23 years $30,527
25 years $34,215

Top Solar Installers in Prospect

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make swapping over to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives you can take advantage of and by providing warranties and repairs.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Prospect

Factors that Affect Solar Panel Costs in Prospect

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Prospect: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,750.The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Prospect homeowners decide to finance their solar panel systems to make paying for solar more affordable.Though solar loans make switching to solar energy more accessible for Prospect homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Prospect, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.90 $16,380 $19,427 11.4 years
8 kW $3.83 $21,420 $26,323 11.2 years
10 kW $3.75 $26,250 $33,429 11.0 years
12 kW $3.67 $30,870 $40,745 10.8 years
14 kW $3.60 $35,280 $48,270 10.6 years
16 kW $3.52 $39,480 $56,006 10.3 years
18 kW $3.45 $43,470 $63,952 10.1 years
20 kW $3.38 $47,250 $72,108 9.9 years

How to Save on Solar Panels

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

  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
  • Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 satisfied reviews from past customers.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like 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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Prospect, CT Solar Cost FAQs

What is the average cost of installing solar panels in Prospect?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,750 for a 5-kW system and $37,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Prospect?

Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Is making the switch to solar worth it?

Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.

How long do solar panels last in Prospect?

On average, solar panels can last 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 larger 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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