Solar Panel Cost Guide in Lancaster, OH (2023 Update)
- Lancaster Solar Installation Cost: $13,471
- 25-Year Savings: $16,795
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lancaster
Let's take a look at the average cost of solar panels in Lancaster.
The national average cost of solar panels is $2.66 per watt, but in Lancaster it's 2.56 per watt. Using this figure, a typical 7.5-kW system would cost about $13,476 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Lancaster see about $15,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Lancaster that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-13,370 |
| 3 years | $-13,169 |
| 5 years | $-12,967 |
| 7 years | $-12,765 |
| 9 years | $-12,563 |
| 11 years | $-12,361 |
| 13 years | $-12,160 |
| 15 years | $-11,958 |
| 17 years | $-11,756 |
| 19 years | $-11,554 |
| 21 years | $-11,353 |
| 23 years | $-11,151 |
| 25 years | $-10,949 |
Top Solar Installers in Lancaster
Although you can install solar panels yourself, it involves extra labor and know-how. Because of that, most people choose to go with a solar panel installer. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you're looking for a solar installer in Lancaster, we've compiled a list of our top suggestions here:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Lancaster
Factors that Affect Solar Panel Costs in Lancaster
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Lancaster: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar system in Lancaster, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,560 for each additional kilowatt you need. The kind of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lancaster is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.66 | $11,182 | $12,974 | 11.6 years |
| 8 kW | $2.61 | $14,623 | $17,586 | 11.4 years |
| 10 kW | $2.56 | $17,920 | $22,341 | 11.1 years |
| 12 kW | $2.51 | $21,074 | $27,239 | 10.9 years |
| 14 kW | $2.46 | $24,084 | $32,281 | 10.7 years |
| 16 kW | $2.41 | $26,952 | $37,466 | 10.5 years |
| 18 kW | $2.36 | $29,676 | $42,794 | 10.2 years |
| 20 kW | $2.30 | $32,256 | $48,266 | 10.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you're worried about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before you sign a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lancaster, OH Solar Cost FAQs
How much does it cost to install solar panels in Lancaster?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Lancaster?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.