Solar Panel Cost Guide in Lunenburg, MA (2023 Update)
- Lunenburg Solar Installation Cost: $9,215
- 25-Year Savings: $18,460
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lunenburg
See how much it might cost to switch to solar power in Lunenburg.
The average cost of solar panels in Lunenburg is 2.94 per watt. To account for the typical energy usage of the average home in Lunenburg, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $9,220, or $13,185 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you go with. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Lunenburg can save about $23,000 on their energy bills over 20 years.
To receive a free quote from a top solar company in Lunenburg, you can click the button below.
Solar savings over time in Lunenburg
| Year | Return on Investment |
|---|---|
| 1 years | $-7,446 |
| 3 years | $-3,908 |
| 5 years | $-370 |
| 7 years | $3,168 |
| 9 years | $6,705 |
| 11 years | $10,243 |
| 13 years | $13,781 |
| 15 years | $17,319 |
| 17 years | $20,857 |
| 19 years | $24,395 |
| 21 years | $27,933 |
| 23 years | $31,471 |
| 25 years | $35,009 |
Top Solar Installers in Lunenburg
Many homeowners opt for a solar installer since installing solar panels yourself can be challenging. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what type of solar equipment would be right for your home.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Lunenburg
Factors that Affect Solar Panel Costs in Lunenburg
Although the average cost of a solar system in Lunenburg is $9,220, your actual cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Lunenburg, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,940 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more 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
Most solar companies in Lunenburg provide solar loans, which reduce the initial cost of installing solar panels. Though solar loans make adopting solar energy more accessible for Lunenburg homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Lunenburg, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Lunenburg know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $24,241 | 8.7 years |
| 8 kW | $3.00 | $16,793 | $32,650 | 8.5 years |
| 10 kW | $2.94 | $20,580 | $41,224 | 8.3 years |
| 12 kW | $2.88 | $24,202 | $49,963 | 8.2 years |
| 14 kW | $2.82 | $27,660 | $58,867 | 8.0 years |
| 16 kW | $2.76 | $30,952 | $67,935 | 7.8 years |
| 18 kW | $2.70 | $34,080 | $77,167 | 7.7 years |
| 20 kW | $2.65 | $37,044 | $86,565 | 7.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully 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.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
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 Lunenburg, MA Solar Cost FAQs
What is the average cost of installing solar panels in Lunenburg?
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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lunenburg?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power 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 usually produce about 250 to 400 watt-hours per hour, the average household 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.