Solar Panel Cost Guide in Lexington, MA (2023 Update)
- Lexington Solar Installation Cost: $9,178
- 25-Year Savings: $18,623
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lexington
We go over average solar pricing in Lexington.
The average cost of a solar panel system in Lexington is 2.94 per watt. To cover the typical energy needs of the average home in Lexington, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,179, or $13,126 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lexington homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a solid investment. The average homeowner in Lexington can save around $24,000 on their energy bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Lexington
| Year | Return on Investment |
|---|---|
| 1 years | $-9,085 |
| 3 years | $-8,899 |
| 5 years | $-8,714 |
| 7 years | $-8,529 |
| 9 years | $-8,343 |
| 11 years | $-8,158 |
| 13 years | $-7,973 |
| 15 years | $-7,787 |
| 17 years | $-7,602 |
| 19 years | $-7,417 |
| 21 years | $-7,231 |
| 23 years | $-7,046 |
| 25 years | $-6,861 |
Top Solar Installers in Lexington
Many homeowners decide to use a solar installation company since trying to install solar panels by yourself can be a lot of work. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Lexington
Factors that Affect Solar Panel Costs in Lexington
The cost of installing a solar system in Lexington can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lexington average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Lexington, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. 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 specials 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 | $24,563 | 8.6 years |
| 8 kW | $3.00 | $16,793 | $33,079 | 8.4 years |
| 10 kW | $2.94 | $20,580 | $41,761 | 8.3 years |
| 12 kW | $2.88 | $24,202 | $50,607 | 8.1 years |
| 14 kW | $2.82 | $27,660 | $59,617 | 7.9 years |
| 16 kW | $2.76 | $30,952 | $68,793 | 7.8 years |
| 18 kW | $2.70 | $34,080 | $78,133 | 7.6 years |
| 20 kW | $2.65 | $37,044 | $87,637 | 7.4 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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 installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Lexington, MA Solar Cost FAQs
What is the average cost of installing solar panels in Lexington?
The average cost of solar panels in Lexington 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lexington?
Solar panels aren't free in Lexington, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,246.81 per year.
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 cover 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.