Solar Panel Cost Guide in Lawrence, MA (2025 Update)
- Lawrence Solar Installation Cost: $12,074
- 25-Year Savings: $17,181
- Payback Period: 11.6 Years
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Average Cost of Solar Panels in Lawrence
See how much it might cost to switch to solar power in Lawrence.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lawrence, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $12,074 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may differ based on your specific situation and what company you choose to go with.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $23,000 over 20 years on electricity bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-10,351 |
| 3 years | $-6,904 |
| 5 years | $-3,457 |
| 7 years | $-10 |
| 9 years | $3,437 |
| 11 years | $6,884 |
| 13 years | $10,331 |
| 15 years | $13,777 |
| 17 years | $17,224 |
| 19 years | $20,671 |
| 21 years | $24,118 |
| 23 years | $27,565 |
| 25 years | $31,012 |
Top Solar Installers in Lawrence
Trying to put up solar panels on your own can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Solar warranties and repairs are ordinarily included in the cost of installation when you sign a contract with a solar company as well, which can save you more money over time.
If you're searching for a solar company in Lawrence, we've compiled a list of our top suggestions here:
See all of the solar companies in Lawrence
Factors that Affect Solar Panel Costs in Lawrence
Though the average cost of a solar system in Lawrence is $12,074, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Lawrence average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you select will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $18,878 | 12.1 years |
| 8 kW | $4.14 | $23,191 | $25,626 | 11.9 years |
| 10 kW | $4.06 | $28,420 | $32,600 | 11.6 years |
| 12 kW | $3.98 | $33,422 | $39,802 | 11.4 years |
| 14 kW | $3.90 | $38,196 | $47,232 | 11.2 years |
| 16 kW | $3.82 | $42,744 | $54,889 | 10.9 years |
| 18 kW | $3.74 | $47,064 | $62,773 | 10.7 years |
| 20 kW | $3.65 | $51,156 | $70,885 | 10.5 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Warranty: If you’re concerned about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
EcoWatch's Lawrence, MA Solar Cost FAQs
How much does it cost to install solar panels in Lawrence?
The average cost of solar panels in Lawrence is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
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 the average daily 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.