Is $55,890 to install a 13.5 kW solar panel system a fair price?
Project Details
I have a family member who says this is the best price they can get me, but I'm not sure after doing some research online. I've seen average prices around $35,000 before tax credit and I'm wondering if those are financed. My current energy bill has been high, recently up to $450 (normally $375-$450), possibly due to a faulty meter. I'm also concerned about the financing terms, specifically the 3.99% APR, as I've heard of lower rates previously. I'm unsure about how the tax credit works and if I will actually receive the $17,000 back, especially since I normally don't owe taxes. This is crucial because if I don't get the tax credit, my monthly payment will increase significantly to $360/month. I would prefer to pay off the system sooner, but the current price makes it difficult.
Quote Details
This quote is for the installation of a 13.5 kW solar panel system designed to offset 88% of energy consumption and produce 10,400 kWh annually. The system includes: - System Size: 13.5 kW - Energy Offset: 88% - Production: 10,400 kWh - Module Type: Hanwha Q cell 410W C+ BOB - Inverter: Enphase IQ8MC - Number Of Panels: 33 - Financing Terms: 3.99% APR for 20 years - Monthly Payment: $247.93 - Payment Adjustment: If 30% of the loan is not paid down by month 18, the monthly payment will increase to $355.
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More Details
Category
Solar
Price
$55,890
Quote Date
August 21, 2025
Location
Connecticut
Battery Storage?
No
# of Panels
33
System Size (kW)
13.5
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