Solar Panel Cost Guide in Lancaster, KY (Jan 2023)

  • Lancaster Solar Installation Cost: $15,774
  • 25-Year Savings: $23,889
  • Payback Period: 9.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

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 Lancaster

See how much it might cost to go solar in Lancaster.

Although the national average of solar panels is $2.66 per watt, solar panels in Lancaster generally cost around $2. Since a 9.6-kW system is needed to cover the energy consumption of a typical home in Lancaster, the average price of going solar will be about $15,774 before claiming the federal solar tax credit of 30%.

How much you pay can be above or below the average in Lancaster depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on utility bills.

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

Solar savings over time in Lancaster

Year Return on Investment
1 years $-14,187
3 years $-11,014
5 years $-7,841
7 years $-4,668
9 years $-1,495
11 years $1,678
13 years $4,851
15 years $8,024
17 years $11,197
19 years $14,370
21 years $17,543
23 years $20,716
25 years $23,889

Top Solar Installers in Lancaster

When going solar, many homeowners decide to use a solar installer since DIY solar panel installation can be a time-consuming project. Plus, if you're unsure what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.

If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lancaster

Factors that Affect Solar Panel Costs in Lancaster

The cost of installing a solar system in Lancaster can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,340. There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Lancaster, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The solar installer you select will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, 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 $2.43 $10,221 $14,488 10.3 years
8 kW $2.39 $13,366 $19,579 10.1 years
10 kW $2.34 $16,380 $24,802 9.9 years
12 kW $2.29 $19,263 $30,155 9.7 years
14 kW $2.25 $22,015 $35,640 9.5 years
16 kW $2.20 $24,636 $41,255 9.3 years
18 kW $2.15 $27,125 $47,002 9.1 years
20 kW $2.11 $29,484 $52,880 8.9 years

How to Save on Solar Panels

There are numerous companies to choose from in Lancaster, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
  • Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Lancaster, KY Solar Cost FAQs

How much does it cost to install solar panels in Lancaster?

The average cost of solar panels in Lancaster is about $11,700 for a 5-kW system and $23,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Lancaster?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 financial benefits from going solar.

How will installing solar panels impact how much my home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lancaster is currently $146,100, which means you can look forward to a value of about $5,990 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lancaster is a fruitful investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 install 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.

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