Solar Panel Cost Guide in Lawrence, KS (2024 Update)
- Lawrence Solar Installation Cost: $18,270
- 25-Year Savings: $28,647
- Payback Period: 10.7 Years
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Average Cost of Solar Panels in Lawrence
We break down average solar pricing in Lawrence.
The average cost of a solar panel system in Lawrence is 3 per watt.The average solar panel system size in Lawrence is around 7.8 kilowatts, meaning a cost of about $18,270 for a solar installation, or $26,126 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Lawrence depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on power bills.
To get a free estimate from a top solar company in Lawrence, you can click the button below.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-16,910 |
| 3 years | $-14,189 |
| 5 years | $-11,469 |
| 7 years | $-8,749 |
| 9 years | $-6,028 |
| 11 years | $-3,308 |
| 13 years | $-587 |
| 15 years | $2,133 |
| 17 years | $4,854 |
| 19 years | $7,574 |
| 21 years | $10,294 |
| 23 years | $13,015 |
| 25 years | $15,735 |
Top Solar Installers in Lawrence
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be challenging. Solar warranties and repairs are often included in the cost of installation when you opt for a solar company too, which can save you more money over time.
If you’d like to go solar but still aren’t certain which solar panel installer to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Lawrence
Factors that Affect Solar Panel Costs in Lawrence
There are several factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,340. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lawrence, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lawrence is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk 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 down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.47 | $14,589 | $18,284 | 11.1 years |
| 8 kW | $3.41 | $19,078 | $24,753 | 10.9 years |
| 10 kW | $3.34 | $23,380 | $31,408 | 10.7 years |
| 12 kW | $3.27 | $27,495 | $38,251 | 10.5 years |
| 14 kW | $3.21 | $31,423 | $45,281 | 10.2 years |
| 16 kW | $3.14 | $35,164 | $52,498 | 10.0 years |
| 18 kW | $3.07 | $38,717 | $59,902 | 9.8 years |
| 20 kW | $3.01 | $42,084 | $67,493 | 9.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re not 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.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lawrence, KS Solar Cost FAQs
How much does it cost to install solar panels in Lawrence?
The average cost of solar panels in Lawrence is about $16,700 for a 5-kW system and $33,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lawrence?
Solar panels aren’t free in Lawrence, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will solar panels impact my property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Lawrence?
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.
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.