Solar Panel Cost Guide in Lynn, MA (Oct 2022)

  • Lynn Solar Installation Cost: $8,746
  • 25-Year Savings: $16,403
  • Payback Period: 8.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lynn

Find out what the average cost of solar panel installation is in Lynn.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lynn, the average cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Lynn, most homeowners require a 4.2-kilowatt system. Using the figure above, a solar installation costs about $8,746, or $6,472 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Lynn see about $22,000 in savings on energy bills over 20 years.

Click the button below to get connected to a top solar installer in your area for a custom estimate.

Solar savings over time in Lynn

Year Return on Investment
1 years $-7,741
3 years $-5,729
5 years $-3,717
7 years $-1,705
9 years $307
11 years $2,319
13 years $4,331
15 years $6,343
17 years $8,355
19 years $10,367
21 years $12,379
23 years $14,391
25 years $16,403

Top Solar Installers in Lynn

Although it's possible to install solar panels yourself, it takes extra labor and handiness. For that reason, most homeowners choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lynn

Factors that Affect Solar Panel Costs in Lynn

The cost of installing a solar system in Lynn can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment Size

The size of the solar system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,940. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Lynn average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Lynn, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Lynn, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 $22,676 9.0 years
8 kW $3.00 $16,793 $30,563 8.9 years
10 kW $2.94 $20,580 $38,616 8.7 years
12 kW $2.88 $24,202 $46,833 8.5 years
14 kW $2.82 $27,660 $55,215 8.3 years
16 kW $2.76 $30,952 $63,761 8.2 years
18 kW $2.70 $34,080 $72,472 8.0 years
20 kW $2.65 $37,044 $81,348 7.8 years

Solar Incentives in Lynn

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Incentive Amount 100% deduction
More Info Click here

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Cape Light Compact- Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Mass Save - HEAT Loan Program
Website Visit here
More Info Click here

Name Solar Massachusetts Renewable Target (SMART) Program
Website Visit here
More Info Click here

Name Mass Solar Loan Program
Website Visit here
More Info Click here

Name Residential and Small-Scale Ground-Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Commonwealth Woodstove Change-Out Program
Website Visit here
More Info Click here

Name Local Option - Energy Revolving Loan Fund
More Info Click here

Name Solar Renewable Energy Certificates (SREC-II)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:

  • Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
  • Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Solar Panel Brands: The type of solar panel you'd like to get plays a role in which company you should go with, since different companies provide different panels.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lynn, MA Solar Cost FAQs

How much does it cost to install solar panels in Lynn?

This is a tough question to answer exactly, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

How much can I save on power bills after installing solar panels?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Lynn, 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?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.

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