Solar Panel Cost Guide in Lowell, MA (2023 Update)
- Lowell Solar Installation Cost: $9,178
- 25-Year Savings: $16,747
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lowell
Let's take a look at the average cost of solar in Lowell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lowell, the typical cost of a solar system is 2.94 per watt. The average solar panel system size in Lowell is around 4.5 kilowatts, meaning a cost of about $9,179 for a solar installation, or $13,126 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more. With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Lowell find going solar can pay off big.
You can click the button below to get connected with a top solar installer in Lowell that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-7,454 |
| 3 years | $-4,007 |
| 5 years | $-560 |
| 7 years | $2,887 |
| 9 years | $6,333 |
| 11 years | $9,780 |
| 13 years | $13,227 |
| 15 years | $16,674 |
| 17 years | $20,121 |
| 19 years | $23,568 |
| 21 years | $27,015 |
| 23 years | $30,462 |
| 25 years | $33,908 |
Top Solar Installers in Lowell
Trying to install solar panels by yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be right for you.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our suggestions 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
See all of the solar companies in Lowell
Factors that Affect Solar Panel Costs in Lowell
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lowell, 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 total cost can increase by about $2,940 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Lowell, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lowell is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $22,038 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,714 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,554 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,558 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,727 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $62,061 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,560 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $79,223 | 8.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
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 Lowell, MA Solar Cost FAQs
What is the average cost of installing solar panels in Lowell?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lowell?
You can't get solar panels for free in Lowell. 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 want to own your solar panels, you can finance them with a solar loan.
Does Lowell have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.