Solar Panel Cost Guide in Lincoln, MA (2023 Update)
- Lincoln Solar Installation Cost: $9,178
- 25-Year Savings: $16,857
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lincoln
Let's have a look at the average cost of solar panels in Lincoln.
The national average cost of solar panels is $2.66 per watt, but in Lincoln it's 2.94 per watt. Using this figure, a typical 4.5-kW system would cost about $9,179 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Lincoln homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Lincoln can save around $22,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar installer in Lincoln for a personalized estimate.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-7,576 |
| 3 years | $-4,374 |
| 5 years | $-1,171 |
| 7 years | $2,032 |
| 9 years | $5,234 |
| 11 years | $8,437 |
| 13 years | $11,640 |
| 15 years | $14,842 |
| 17 years | $18,045 |
| 19 years | $21,247 |
| 21 years | $24,450 |
| 23 years | $27,653 |
| 25 years | $30,855 |
Top Solar Installers in Lincoln
Although it's possible to install solar panels yourself, it requires extra effort and know-how. For that reason, most homeowners choose to go with a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you pick which one will be best for your family.
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
Even though the average cost of a solar system in Lincoln is $9,179, your final cost may be above or below the average. There are many 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 keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,940. 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 get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Lincoln average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Lincoln, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Lincoln, and each can charge varying amounts for labor and equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater 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 promotion 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 | $22,186 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,911 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,800 | 8.8 years |
| 12 kW | $2.88 | $24,202 | $45,854 | 8.6 years |
| 14 kW | $2.82 | $27,660 | $54,073 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $62,456 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $71,004 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $79,716 | 7.9 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
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 Lincoln, MA Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
The average cost of solar panels in Lincoln 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lincoln, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.