Solar Panel Cost Guide in Lenox, MA (Feb 2023)
- Lenox Solar Installation Cost: $9,302
- 25-Year Savings: $15,431
- Payback Period: 9.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Lenox
We break down average solar pricing in Lenox.
The national average cost of solar panels is $2.66 per watt, but in Lenox it's $3 per watt. The average Lenox homeowner needs a 4.5-kilowatt system, which would cost about $9,302, or $6,883 after the federal solar tax credit of 30% is applied.
The true price you pay can be above or below the average in Lenox depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $21,000 over 20 years on electricity bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lenox
| Year | Return on Investment |
|---|---|
| 1 years | $-8,313 |
| 3 years | $-6,334 |
| 5 years | $-4,356 |
| 7 years | $-2,377 |
| 9 years | $-398 |
| 11 years | $1,580 |
| 13 years | $3,559 |
| 15 years | $5,538 |
| 17 years | $7,516 |
| 19 years | $9,495 |
| 21 years | $11,474 |
| 23 years | $13,452 |
| 25 years | $15,431 |
Top Solar Installers in Lenox
Although you can install solar panels on your own, it requires extra effort and expertise. That's one of the reasons most people choose a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
There are several licensed solar professionals that can take care of your solar installation project. 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 Technology
Tesla Energy
- 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 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 is dependent on several factors. The most significant one is your system size, 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 determines the overall cost of going solar. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Lenox, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Lenox to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. 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 a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Lenox, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Lenox, MA Solar Cost FAQs
How much does it cost to install solar panels in Lenox?
The average cost of solar panels in Lenox is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lenox?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will solar panels impact the value of my home?
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 Lenox is currently $191,200, so you can expect a value of about $7,839 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lenox is a rewarding investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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 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.
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.