Solar Panel Cost Guide in Lynnfield, MA (2024 Update)
- Lynnfield Solar Installation Cost: $12,074
- 25-Year Savings: $15,035
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Lynnfield
We go over average solar pricing in Lynnfield.
While the national average of solar panels is $2.66 per watt, solar panels in Lynnfield generally cost about 4.The average solar panel system size in Lynnfield is around 4.2 kilowatts, meaning a cost of about $12,074 for a solar installation, or $17,266 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Despite the significant upfront cost, the average Lynnfield homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lynnfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,574 |
| 3 years | $-7,572 |
| 5 years | $-4,571 |
| 7 years | $-1,570 |
| 9 years | $1,431 |
| 11 years | $4,432 |
| 13 years | $7,433 |
| 15 years | $10,434 |
| 17 years | $13,435 |
| 19 years | $16,436 |
| 21 years | $19,437 |
| 23 years | $22,438 |
| 25 years | $25,440 |
Top Solar Installers in Lynnfield
When going solar, many homeowners opt to use a solar installer since DIY solar panel installation can be a challenging project. Another perk of working with a solar company is that they can help you optimize your ROI by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
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 in Lynnfield:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lynnfield
Factors that Affect Solar Panel Costs in Lynnfield
For many Lynnfield homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lynnfield, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The solar equipment you choose can bring your price up or down 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, more efficient panels could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Lynnfield average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lynnfield to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.Even though solar loans make adopting solar energy more accessible for Lynnfield homeowners, they can also add to 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 solar panel installer you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lynnfield are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $4.22 | $17,734 | $15,848 | 13.2 years |
| 8 kW | $4.14 | $23,191 | $21,585 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,550 | 12.7 years |
| 12 kW | $3.98 | $33,422 | $33,742 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,161 | 12.2 years |
| 16 kW | $3.82 | $42,744 | $46,808 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $53,682 | 11.7 years |
| 20 kW | $3.65 | $51,156 | $60,784 | 11.4 years |
How to Save on Solar Panels
There are many companies to choose from in Lynnfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies carry different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lynnfield, MA Solar Cost FAQs
What is the average cost of installing solar panels in Lynnfield?
The average cost of solar panels in Lynnfield is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
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.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lynnfield is currently $1,000,680, so you could be looking at a value of about $41,028 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lynnfield is a rewarding investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can 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.