Solar Panel Cost Guide in Lancaster, OH (Jan 2023)
- Lancaster Solar Installation Cost: $13,476
- 25-Year Savings: $16,790
- Payback Period: 11.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Lancaster
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be hard. Another upside of using a solar installer is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Lancaster
Factors that Affect Solar Panel Costs in Lancaster
There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,560. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 bring your total well above the Lancaster average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Lancaster homeowners opt to finance their solar panel systems to make going solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Lancaster, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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
There are numerous companies to choose from in Lancaster, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- 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 not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
EcoWatch's Lancaster, OH Solar Cost FAQs
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.