Solar Panel Cost Guide in Lakeville, MA (Oct 2022)

  • Lakeville Solar Installation Cost: $8,520
  • 25-Year Savings: $16,204
  • Payback Period: 8.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lakeville

Let's take a look at the average cost of solar in Lakeville.

The national average cost of solar panels is $2.66 per watt, but in Lakeville it's $3 per watt. The average solar panel system size in Lakeville is around 4.1 kilowatts, meaning a cost of about $8,520 for a solar installation, or $6,305 after the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Lakeville homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing solar panels is a solid investment. The average homeowner in Lakeville can save around $23,000 on their electricity bills over 20 years.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Lakeville

Year Return on Investment
1 years $-7,531
3 years $-5,553
5 years $-3,575
7 years $-1,597
9 years $381
11 years $2,359
13 years $4,336
15 years $6,314
17 years $8,292
19 years $10,270
21 years $12,248
23 years $14,226
25 years $16,204

Top Solar Installers in Lakeville

When making the switch to solar, many homeowners decide to use a solar installation company since installing solar panels yourself can be a time-consuming project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for you.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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 Lakeville

Factors that Affect Solar Panel Costs in Lakeville

The cost of installing a solar system in Lakeville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant 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 some different factors. One of the main factors is the system size. Solar power systems that have better 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 $2,940. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lakeville average.

Solar Financing Terms

If paying for solar panels in cash is too expensive, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. Though solar loans make adopting solar energy more accessible for Lakeville homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panel system can influence your pricing. Lakeville's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lakeville have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.06 $12,842 $23,007 9.0 years
8 kW $3.00 $16,793 $31,006 8.8 years
10 kW $2.94 $20,580 $39,169 8.6 years
12 kW $2.88 $24,202 $47,496 8.4 years
14 kW $2.82 $27,660 $55,989 8.3 years
16 kW $2.76 $30,952 $64,646 8.1 years
18 kW $2.70 $34,080 $73,467 7.9 years
20 kW $2.65 $37,044 $82,453 7.7 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
  • Contract: Before you sign a contract with a solar installer, make sure to read it through fully 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 what services you can expect from them.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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 Lakeville, MA Solar Cost FAQs

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

The average cost of solar panels in Lakeville is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Lakeville?

Solar panels aren't free in Lakeville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Is it worth going solar in Lakeville?

Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.

How long do solar panels last in Lakeville?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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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