Solar Panel Cost Guide in Lancaster, MA (2024 Update)
- Lancaster Solar Installation Cost: $12,726
- 25-Year Savings: $17,152
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Lancaster
We go over average solar pricing in Lancaster.
While the national average of solar panels is $2.66 per watt, solar panels in Lancaster generally cost about 4.The average Lancaster homeowner needs a 4.5-kilowatt system, which would cost about $12,726 with the federal tax credit, or $18,198 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the large upfront cost, the average Lancaster homeowner can save about $22,000 on their energy bills over 20 years, which is one of the benefits of solar.
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 Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-10,980 |
| 3 years | $-7,487 |
| 5 years | $-3,995 |
| 7 years | $-502 |
| 9 years | $2,990 |
| 11 years | $6,482 |
| 13 years | $9,975 |
| 15 years | $13,467 |
| 17 years | $16,960 |
| 19 years | $20,452 |
| 21 years | $23,944 |
| 23 years | $27,437 |
| 25 years | $30,929 |
Top Solar Installers in Lancaster
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lancaster
Factors that Affect Solar Panel Costs in Lancaster
Although the average cost of a solar system in Lancaster is $12,726, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 $4,060.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Lancaster, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lancaster 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 help you save 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 | $4.22 | $17,734 | $17,597 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $23,917 | 12.3 years |
| 10 kW | $4.06 | $28,420 | $30,465 | 12.1 years |
| 12 kW | $3.98 | $33,422 | $37,240 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,242 | 11.6 years |
| 16 kW | $3.82 | $42,744 | $51,472 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $58,929 | 11.1 years |
| 20 kW | $3.65 | $51,156 | $66,614 | 10.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lancaster, MA Solar Cost FAQs
How much does it cost to install solar panels in Lancaster?
The average cost of solar panels in Lancaster is about $20,300 for a 5-kW system and $40,600 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 consume.
Should I lease or buy solar panels in Lancaster?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lancaster is currently $528,805, so you can look forward to a value of about $21,681 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lancaster is a worthwhile investment.
What solar power system size is right for 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 cover 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.