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

  • Lynn Solar Installation Cost: $9,246
  • 25-Year Savings: $15,903
  • Payback Period: 9.2 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lynn

Let's have a look at the average cost of solar in Lynn.

The national average cost of solar panels is $2.66 per watt, but in Lynn it's $3 per watt. Because a 4.2-kW system is needed to cover the energy costs of a typical home in Lynn, the average price of going solar will be about $9,246 before claiming the federal solar tax credit.

Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. Even with the significant upfront cost, the average Lynn homeowner can save about $22,000 on their energy bills over 20 years, which is one of the positives of solar.

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

Solar savings over time in Lynn

Year Return on Investment
1 years $-8,240
3 years $-6,228
5 years $-4,216
7 years $-2,205
9 years $-193
11 years $1,819
13 years $3,831
15 years $5,843
17 years $7,855
19 years $9,867
21 years $11,879
23 years $13,891
25 years $15,903

Top Solar Installers in Lynn

Although you can install solar panels by yourself, it involves extra time and expertise. Because of that, most people choose to hire a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.

You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:

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 is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,940 per kilowatt in Lynn. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lynn, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Lynn to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. Though solar loans make switching to solar energy more accessible for Lynn homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar company you choose to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Lynn, and each can charge varying amounts for labor and equipment. Additionally, some companies in Lynn 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 $13,576 $21,942 9.6 years
8 kW $3.00 $17,753 $29,604 9.4 years
10 kW $2.94 $21,756 $37,440 9.2 years
12 kW $2.88 $25,585 $45,450 9.0 years
14 kW $2.82 $29,240 $53,634 8.8 years
16 kW $2.76 $32,721 $61,992 8.6 years
18 kW $2.70 $36,028 $70,525 8.5 years
20 kW $2.65 $39,161 $79,231 8.3 years

Solar Incentives in Lynn

Name Solar Massachusetts Renewable Target (SMART) Program
Incentive Amount (Base compensation rate + compensation rate adders - greenfield subtractor) * total kWh generated - value of energy generated
Incentive Max The ceiling price for the competitive procurement to determine the base compensation rate was $0.17/kWh.
For systems 25 kW or less, the combination of a base compensation rate and adder may not exceed the base compensation rate for low-income projects less than or equal to 25 kW.
Website Visit here
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SREC-II)
Incentive Amount Varies, depending on market supply and demand
Incentive Max 2017 compliance year: Alternative Compliance Payment Rate is $350 per MWh (~$0.35 per kWh)
Website Visit here
More Info Click here

Name Renewable Energy Property Tax Exemption
Incentive Amount 100% exemption for 20 years
Incentive Max Not specified
Website Visit here
More Info Click here

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
Incentive Max $1,000
More Info Click here

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

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

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

Name Reading Municipal Light Department - Residential Renewable Energy Rebates
Incentive Amount MLP Solar Rebate Program: $1.20 per watt
Residential Renewable Energy Rebate Program: $1.00 per watt
Incentive Max MLP Solar Rebate Program: 50% of cost or $30,000, whichever is less
Residential Renewable Energy Rebate Program: $2,000
Website Visit here
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the completion timeline.
  • 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.
  • Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely have a good reputation and are qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.

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

What is the average cost of installing solar panels in Lynn?

The average cost of solar panels in Lynn is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider aside from cost when buying solar panels?

The upfront 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 places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Can solar panels significantly reduce my electricity bills?

Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,183.92 per year.

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 choose to replace them once you've had 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us