Solar Panel Cost Guide in Lowell, IN (2025 Update)
- Lowell Solar Installation Cost: $25,659
- 25-Year Savings: $31,050
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Lowell
See how much it might cost to make the switch to solar in Lowell.
The national average cost of solar panels is $2.66 per watt, but in Lowell it’s 4 per watt.Since a 8.9-kW system is needed to cover the energy usage of a typical home in Lowell, the average price of going solar will be about $25,659 after claiming the federal solar tax credit of 0.
These figures are only averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you want to go with.But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on power bills.
To see your potential savings and connect with a local solar company, 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
Installing solar panels yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. 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 offering warranties and repairs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Lowell
Factors that Affect Solar Panel Costs in Lowell
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Lowell: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Lowell, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $4,100 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Lowell homeowners opt to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion 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 | $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
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: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: If you care about the endurance of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
EcoWatch's Lowell, IN Solar Cost FAQs
What is the average cost of installing solar panels in Lowell?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $20,500 for a 5-kW system and $41,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lowell?
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 property 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 having solar panels impact the value of my home?
Solar panels 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 could be looking at a value of about $12,383 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lowell is a worthwhile investment.
How long do solar panels last in Lowell?
On average, the lifespan of solar panels is 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 higher 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.