Solar Panel Cost Guide in Lawrence, MA (Feb 2023)

  • Lawrence Solar Installation Cost: $8,746
  • 25-Year Savings: $17,178
  • Payback Period: 8.4 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 Lawrence

Find out what the average cost of solar panel installation is in Lawrence.

The national average cost of solar panels is $2.66 per watt, but in Lawrence it's $3 per watt. Using this figure, a typical 4.2 would cost about $8,746 before the 30% federal solar tax credit is applied.

These figures are only estimates, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with. With average savings of about $23,000 on utility bills over 20 years, many homeowners in Lawrence find investing in solar has a decent ROI.

You can click the button below to get connected with a pre-vetted solar installer in Lawrence that can help you get a more accurate cost estimate for your home.

Solar savings over time in Lawrence

Year Return on Investment
1 years $-7,710
3 years $-5,636
5 years $-3,562
7 years $-1,488
9 years $586
11 years $2,660
13 years $4,734
15 years $6,808
17 years $8,882
19 years $10,956
21 years $13,030
23 years $15,104
25 years $17,178

Top Solar Installers in Lawrence

Although you can install solar panels on your own, it takes extra labor and know-how. Because of that, almost all homeowners choose a solar panel installer. The expertise that solar installers offer can be valuable as well, especially if you don't quite know what type of solar equipment would be right for your home.

If you'd like to go solar but still aren't certain which solar system company to go with, here are our recommendations for providers nearby:

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 Lawrence

Factors that Affect Solar Panel Costs in Lawrence

For many Lawrence homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lawrence, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar 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 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 power bills. In addition, extra products, such as solar batteries, can bring your total well above the Lawrence average.

Solar Financing Terms

If paying for a solar system in cash is out of reach, solar loans are a solid option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Lawrence, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better 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 lower to compete with bigger companies.

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 $23,770 8.8 years
8 kW $3.00 $16,793 $32,023 8.6 years
10 kW $2.94 $20,580 $40,440 8.4 years
12 kW $2.88 $24,202 $49,022 8.3 years
14 kW $2.82 $27,660 $57,769 8.1 years
16 kW $2.76 $30,952 $66,680 7.9 years
18 kW $2.70 $34,080 $75,756 7.8 years
20 kW $2.65 $37,044 $84,997 7.6 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. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should go with, since different companies provide different panels.
  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Warranty: If you're worried about the endurance of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.

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 Lawrence, MA Solar Cost FAQs

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

This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.

What other factors should I consider apart from cost when buying solar panels?

Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How long do solar panels last in Lawrence?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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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