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
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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:
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.
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.
EcoWatch's Lawrence, MA Solar Cost FAQs
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.