Solar Panel Cost Guide in Lockwood, MT (2024 Update)
- Lockwood Solar Installation Cost: $40,976
- 25-Year Savings: $32,133
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Lockwood
Find out what the average cost of a solar system is in Lockwood.
In Lockwood, solar panels cost about 3 per watt on average.Using this figure, a typical 16.9-kW system would cost about $40,976 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more.With average savings of about $15,000 on utility bills over 20 years, many homeowners in Lockwood find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar installer in Lockwood for a quote for your home.
Solar savings over time in Lockwood
| Year | Return on Investment |
|---|---|
| 1 years | $-39,704 |
| 3 years | $-37,158 |
| 5 years | $-34,613 |
| 7 years | $-32,068 |
| 9 years | $-29,523 |
| 11 years | $-26,978 |
| 13 years | $-24,433 |
| 15 years | $-21,888 |
| 17 years | $-19,342 |
| 19 years | $-16,797 |
| 21 years | $-14,252 |
| 23 years | $-11,707 |
| 25 years | $-9,162 |
Top Solar Installers in Lockwood
Installing solar panels by yourself can be a difficult undertaking, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
If you're looking for a solar company in Lockwood, the EcoWatch team has organized a list of our top suggestions here:
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 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 Lockwood
Factors that Affect Solar Panel Costs in Lockwood
The cost of installing a solar system in Lockwood can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels 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 $3,470 per kilowatt in Lockwood.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lockwood to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lockwood is the company you hire to install your PV system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Lockwood are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $3.61 | $15,157 | $6,940 | 17.1 years |
| 8 kW | $3.54 | $19,821 | $9,641 | 16.8 years |
| 10 kW | $3.47 | $24,290 | $12,538 | 16.5 years |
| 12 kW | $3.40 | $28,565 | $15,628 | 16.2 years |
| 14 kW | $3.33 | $32,646 | $18,913 | 15.8 years |
| 16 kW | $3.26 | $36,532 | $22,392 | 15.5 years |
| 18 kW | $3.19 | $40,224 | $26,065 | 15.2 years |
| 20 kW | $3.12 | $43,722 | $29,933 | 14.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: Before signing a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 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 Lockwood, MT Solar Cost FAQs
How much does it cost to install solar panels in Lockwood?
The average cost of solar panels in Lockwood is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Lockwood?
A solar panel system isn’t free in Lockwood, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Lockwood?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.