Solar Panel Cost Guide in Lenox, MA (2023 Update)
- Lenox Solar Installation Cost: $9,295
- 25-Year Savings: $15,438
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lenox
Find out how much it might cost to make the switch to solar in Lenox.
While the national average of solar panels is $2.66 per watt, solar panels in Lenox generally cost about 2.94. To cover the typical energy needs of the average home in Lenox, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,302, or $13,302 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Lenox depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on power bills.
To receive a free quote from a vetted solar installation company in Lenox, you can click the button below.
Solar savings over time in Lenox
| Year | Return on Investment |
|---|---|
| 1 years | $-7,572 |
| 3 years | $-4,125 |
| 5 years | $-678 |
| 7 years | $2,769 |
| 9 years | $6,216 |
| 11 years | $9,663 |
| 13 years | $13,110 |
| 15 years | $16,557 |
| 17 years | $20,003 |
| 19 years | $23,450 |
| 21 years | $26,897 |
| 23 years | $30,344 |
| 25 years | $33,791 |
Top Solar Installers in Lenox
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar company can make your switch to solar power much easier. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what kind of solar equipment you need.
If you're on the hunt for a solar installer in Lenox, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lenox
Factors that Affect Solar Panel Costs in Lenox
The cost of installing a solar system in Lenox can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Lenox, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Lenox homeowners decide to finance their solar panel systems to offset upfront costs. It's a good idea to include 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Lenox, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $3.06 | $12,842 | $20,015 | 9.8 years |
| 8 kW | $3.00 | $16,793 | $27,015 | 9.6 years |
| 10 kW | $2.94 | $20,580 | $34,181 | 9.4 years |
| 12 kW | $2.88 | $24,202 | $41,511 | 9.2 years |
| 14 kW | $2.82 | $27,660 | $49,006 | 9.0 years |
| 16 kW | $2.76 | $30,952 | $56,665 | 8.8 years |
| 18 kW | $2.70 | $34,080 | $64,489 | 8.6 years |
| 20 kW | $2.65 | $37,044 | $72,478 | 8.5 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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 good reviews from past customers.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component 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
EcoWatch's Lenox, MA Solar Cost FAQs
How much does it cost to install solar panels in Lenox?
This is a hard question to answer precisely, because the cost depends on a variety of 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lenox?
You can't get solar panels for free in Lenox. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,095.22 per year.
How long do solar panels last in Lenox?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.