Solar Panel Cost Guide in Lawrence, KS (2023 Update)
- Lawrence Solar Installation Cost: $14,160
- 25-Year Savings: $28,654
- Payback Period: 8.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lawrence
Let's take a look at the average cost of solar in Lawrence.
The average cost of a solar panel system in Lawrence is 2.59 per watt. To cover the typical energy needs of the average home in Lawrence, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs about $14,160, or $20,249 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what installation company you go with. Even with the high upfront cost, the average Lawrence homeowner can save around $21,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a top solar installer in Lawrence, you can click the button below.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-12,447 |
| 3 years | $-9,022 |
| 5 years | $-5,597 |
| 7 years | $-2,172 |
| 9 years | $1,254 |
| 11 years | $4,679 |
| 13 years | $8,104 |
| 15 years | $11,529 |
| 17 years | $14,954 |
| 19 years | $18,379 |
| 21 years | $21,804 |
| 23 years | $25,229 |
| 25 years | $28,654 |
Top Solar Installers in Lawrence
When switching to solar energy, many homeowners prefer to go with a solar installer since putting up a solar system yourself can be a difficult project. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your home.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Lawrence
Factors that Affect Solar Panel Costs in Lawrence
There are a number of criteria 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 panels.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,590 per kilowatt in Lawrence. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Lawrence offer solar loans, which reduce the initial cost of installing solar panels. Though solar loans make going solar more accessible for Lawrence homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $2.69 | $11,313 | $21,560 | 8.6 years |
| 8 kW | $2.64 | $14,794 | $29,037 | 8.4 years |
| 10 kW | $2.59 | $18,130 | $36,658 | 8.3 years |
| 12 kW | $2.54 | $21,321 | $44,425 | 8.1 years |
| 14 kW | $2.49 | $24,367 | $52,337 | 7.9 years |
| 16 kW | $2.43 | $27,268 | $60,394 | 7.8 years |
| 18 kW | $2.38 | $30,023 | $68,596 | 7.6 years |
| 20 kW | $2.33 | $32,634 | $76,943 | 7.4 years |
How to Save on Solar Panels
There are a large number of companies available in Lawrence, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Reputation: Companies that have been operating for many years 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 support, such as part repairs and replacements.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 $12,950 for a 5-kW system and $25,900 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lawrence?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 buy between 20 and 35 panels to account for 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.