Solar Panel Cost Guide in Prospect, CT (Jan 2023)

  • Prospect Solar Installation Cost: $8,879
  • 25-Year Savings: $18,141
  • Payback Period: 8.2 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 Prospect

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

In Prospect, solar panels cost about $3 per watt on average. To account for the typical energy needs of the average home in Prospect, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,879, or $6,570 after the federal solar tax credit of 30% is applied.

These figures are only estimates, and how much solar costs for you will most likely vary based on the amount of energy your home requires and what company you choose to go with. With average savings of about $23,000 on power bills over 20 years, many homeowners in Prospect find investing in solar can be quite rewarding.

To see your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Prospect

Year Return on Investment
1 years $-7,798
3 years $-5,636
5 years $-3,475
7 years $-1,313
9 years $848
11 years $3,010
13 years $5,171
15 years $7,333
17 years $9,494
19 years $11,656
21 years $13,818
23 years $15,979
25 years $18,141

Top Solar Installers in Prospect

DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. The payback period of solar panels will vary based on factors like your location and energy consumption, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.

There are a number of 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 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 Prospect

Factors that Affect Solar Panel Costs in Prospect

Although the average cost of a solar system in Prospect is $8,879, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.

Solar Equipment

One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,800 per kilowatt in Prospect. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Prospect average.

Solar Financing Terms

Most solar installers in Prospect offer solar loans, which reduce the initial cost of installing a solar system. Even though solar loans make switching to solar energy more accessible for Prospect homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can impact your pricing. Prospect's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, 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 $23,577 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

Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Companies that have been in business for many years 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 support, such as part repairs and replacements.
  • Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.

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 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 variety of factors. Generally 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with 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 appealing choice, as it commonly comes with low or $0 upfront payments. The downside 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.

How much can I save on energy bills after installing solar panels?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Prospect, 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.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

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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