Solar Panel Cost Guide in Lawrence, NY (2024 Update)
- Lawrence Solar Installation Cost: $9,833
- 25-Year Savings: $19,908
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lawrence
Find out what the average cost of solar panel installation is in Lawrence.
In Lawrence, solar panels cost about 4 per watt on average.Using this figure, a typical 3.8-kW system would cost about $9,833 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.Even with the high initial cost, the average Lawrence homeowner can save around $28,000 on their electricity bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Lawrence for a quote for your home.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-7,953 |
| 3 years | $-4,194 |
| 5 years | $-434 |
| 7 years | $3,325 |
| 9 years | $7,085 |
| 11 years | $10,844 |
| 13 years | $14,603 |
| 15 years | $18,363 |
| 17 years | $22,122 |
| 19 years | $25,881 |
| 21 years | $29,641 |
| 23 years | $33,400 |
| 25 years | $37,160 |
Top Solar Installers in Lawrence
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using a solar panel installer can make switching to solar power much easier. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're on the hunt for a solar installer in Lawrence, the EcoWatch team has compiled a list of our top suggestions here:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lawrence
Factors that Affect Solar Panel Costs in Lawrence
The cost of installing a solar system in Lawrence 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 equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Lawrence, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Lawrence, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s crucial to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Lawrence, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $27,486 | 9.2 years |
| 8 kW | $3.72 | $20,849 | $37,056 | 9.0 years |
| 10 kW | $3.65 | $25,550 | $46,832 | 8.8 years |
| 12 kW | $3.58 | $30,047 | $56,811 | 8.6 years |
| 14 kW | $3.50 | $34,339 | $66,995 | 8.5 years |
| 16 kW | $3.43 | $38,427 | $77,383 | 8.3 years |
| 18 kW | $3.36 | $42,311 | $87,976 | 8.1 years |
| 20 kW | $3.29 | $45,990 | $98,773 | 7.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly impacts 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:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Lawrence, NY Solar Cost FAQs
How much does it cost to install solar panels in Lawrence?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Lawrence?
A solar panel system isn’t free in Lawrence, 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 help lower the cost.
Can solar panels significantly reduce my energy 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 $1,447.63 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.