Solar Panel Cost Guide in Lowell, MA (Mar 2023)
- Lowell Solar Installation Cost: $9,179
- 25-Year Savings: $16,746
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lowell
Let's have a look at the average cost of solar panels in Lowell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lowell, the typical cost of solar panels 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.
How much you pay can be higher or lower than the average in Lowell based on a few factors, such as the kind of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average Lowell homeowners see about $22,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Lowell for a personalized estimate.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,142 |
| 3 years | $-6,068 |
| 5 years | $-3,994 |
| 7 years | $-1,920 |
| 9 years | $154 |
| 11 years | $2,228 |
| 13 years | $4,302 |
| 15 years | $6,376 |
| 17 years | $8,450 |
| 19 years | $10,524 |
| 21 years | $12,598 |
| 23 years | $14,672 |
| 25 years | $16,746 |
Top Solar Installers in Lowell
When going solar, many homeowners decide to use a solar installation company since handling can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your home.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some 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 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 Lowell
Factors that Affect Solar Panel Costs in Lowell
For many Lowell homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lowell, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,940. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 over time on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lowell average.
Solar Financing Terms
Most solar companies in Lowell have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your all-in costs, so it's important to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Lowell, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you want to install plays a part in which company you should choose, since different companies have different panels.
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 Lowell, MA Solar Cost FAQs
How much does it cost to install solar panels in Lowell?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Lowell?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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.
Is going solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.