Solar Panel Cost Guide in Lowell, IN (2024 Update)

  • Lowell Solar Installation Cost: $25,659
  • 25-Year Savings: $31,050
  • Payback Period: 13.4 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 Lowell

See how much it might cost to make the switch to solar in Lowell.

In Lowell, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Lowell, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs about $25,659, or $36,692 before the federal solar tax credit of 0 is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Lowell homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Lowell see about $20,000 in savings on electricity bills over 20 years.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Lowell

Year Return on Investment
1 years $-23,940
3 years $-20,500
5 years $-17,061
7 years $-13,621
9 years $-10,182
11 years $-6,742
13 years $-3,303
15 years $137
17 years $3,576
19 years $7,015
21 years $10,455
23 years $13,894
25 years $17,334

Top Solar Installers in Lowell

When switching to solar energy, many homeowners opt to hire a solar installer since DIY solar panel installation can be a challenging project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.

If you’d like to go solar but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Lowell

Factors that Affect Solar Panel Costs in Lowell

For many Lowell homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lowell, with typical prices between $20,000 to $40,000. There are a number of factors that significantly 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 affects the overall cost of going solar. For that reason, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons 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 Lowell to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panels can influence how much it costs. Lowell’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that provides the products, warranties and services you want and also is within your budget.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $4.26 $17,909 $14,185 14.0 years
8 kW $4.18 $23,419 $19,372 13.7 years
10 kW $4.10 $28,700 $24,789 13.4 years
12 kW $4.02 $33,751 $30,435 13.1 years
14 kW $3.94 $38,573 $36,312 12.9 years
16 kW $3.85 $43,165 $42,417 12.6 years
18 kW $3.77 $47,527 $48,753 12.3 years
20 kW $3.69 $51,660 $55,318 12.1 years

How to Save on Solar Panels

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

  • Solar Panel Brands: Different companies carry various brands and models of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
  • Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
  • Warranty: If you’re concerned about the endurance of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
  • Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Lowell, IN Solar Cost FAQs

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

The average cost of solar panels in Lowell is about $20,500 for a 5-kW system and $41,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Lowell?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.

How will solar panels impact the value of my home?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lowell is currently $302,032, which means you can expect a value of about $12,383 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lowell is a fruitful investment.

How often do you have to replace solar panels?

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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