Solar Panel Cost Guide in Lawrence, OH (2025 Update)
- Lawrence Solar Installation Cost: $18,563
- 25-Year Savings: $12,501
- Payback Period: 17.6 Years
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Average Cost of Solar Panels in Lawrence
We break down average solar pricing in Lawrence.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lawrence, the average cost of a solar system is 3 per watt.The average solar panel system size in Lawrence is around 7.8 kilowatts, meaning a cost of about $18,563 for a solar installation, or $26,545 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you go with.With typical savings of about $13,000 on electricity bills over 20 years, many homeowners in Lawrence find investing in solar can be quite rewarding.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lawrence
Year | Return on Investment |
---|---|
1 years | $-17,343 |
3 years | $-14,903 |
5 years | $-12,462 |
7 years | $-10,022 |
9 years | $-7,581 |
11 years | $-5,141 |
13 years | $-2,700 |
15 years | $-260 |
17 years | $2,181 |
19 years | $4,621 |
21 years | $7,062 |
23 years | $9,502 |
25 years | $11,943 |
Top Solar Installers in Lawrence
Trying to install solar panels by yourself can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you’d like to start using solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers nearby:
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 Lawrence
Factors that Affect Solar Panel Costs in Lawrence
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Lawrence: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
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 uses, the larger your system will likely need to be. You can expect to pay around $3,410 per kilowatt in Lawrence.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Lawrence, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make adopting solar energy more accessible for Lawrence homeowners, they can also increase 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 company you choose 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 different amounts for labor and equipment.Additionally, some companies in Lawrence have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $3.55 | $14,895 | $5,502 | 18.3 years |
8 kW | $3.48 | $19,478 | $7,718 | 17.9 years |
10 kW | $3.41 | $23,870 | $10,125 | 17.6 years |
12 kW | $3.34 | $28,071 | $12,723 | 17.2 years |
14 kW | $3.27 | $32,081 | $15,512 | 16.9 years |
16 kW | $3.21 | $35,900 | $18,491 | 16.5 years |
18 kW | $3.14 | $39,529 | $21,662 | 16.1 years |
20 kW | $3.07 | $42,966 | $25,024 | 15.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven 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 good reviews from previous customers.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Lawrence, OH Solar Cost FAQs
What is the average cost of installing solar panels in Lawrence?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive 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 feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Lawrence?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lawrence?
Even 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 their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.