Solar Panel Cost Guide in Lincoln, MA (2024 Update)
- Lincoln Solar Installation Cost: $12,674
- 25-Year Savings: $16,857
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Lincoln
See how much it might cost to install solar panels in Lincoln.
While the national average of solar panels is $2.66 per watt, solar panels in Lincoln generally cost around 4.Because a 4.5-kW system is needed to cover the energy needs of a typical home in Lincoln, the average price of going solar will be about $12,674 after claiming the federal solar tax credit of 0.
The actual price you pay can go above or below the average in Lincoln based on several factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $22,000 on energy bills over 20 years, many homeowners in Lincoln find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar company in Lincoln for a quote for your home.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-11,072 |
| 3 years | $-7,870 |
| 5 years | $-4,667 |
| 7 years | $-1,465 |
| 9 years | $1,738 |
| 11 years | $4,941 |
| 13 years | $8,143 |
| 15 years | $11,346 |
| 17 years | $14,549 |
| 19 years | $17,751 |
| 21 years | $20,954 |
| 23 years | $24,156 |
| 25 years | $27,359 |
Top Solar Installers in Lincoln
Although it's possible to install solar panels yourself, it requires extra labor and know-how. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor as well, which can save you more money over time.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our recommendations for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Lincoln
Factors that Affect Solar Panel Costs in Lincoln
The cost of installing a solar system in Lincoln can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lincoln, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Lincoln homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s wise 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 back the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Lincoln, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $17,294 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,513 | 12.4 years |
| 10 kW | $4.06 | $28,420 | $29,960 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,634 | 11.9 years |
| 14 kW | $3.90 | $38,196 | $43,536 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,665 | 11.4 years |
| 18 kW | $3.74 | $47,064 | $58,021 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,604 | 11.0 years |
How to Save on Solar Panels
There are many companies to choose from in Lincoln, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Lincoln, MA Solar Cost FAQs
How much does it cost to install solar panels in Lincoln?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lincoln?
A solar panel system isn’t free in Lincoln, 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 you can take advantage of.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.