Solar Panel Cost Guide in Lackawaxen, PA (2023 Update)
- Lackawaxen Solar Installation Cost: $12,143
- 25-Year Savings: $12,535
- Payback Period: 12.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lackawaxen
See how much it might cost to install solar panels in Lackawaxen.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lackawaxen, the typical cost of a solar system is 2.55 per watt. The average Lackawaxen homeowner needs a 6.8-kilowatt system, which would cost about $12,138 with the federal tax credit, or $17,357 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with. Despite the high initial cost, the average Lackawaxen homeowner can save around $14,000 on their energy bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a vetted solar panel company in Lackawaxen for a custom estimate.
Solar savings over time in Lackawaxen
| Year | Return on Investment |
|---|---|
| 1 years | $-12,061 |
| 3 years | $-11,896 |
| 5 years | $-11,732 |
| 7 years | $-11,567 |
| 9 years | $-11,403 |
| 11 years | $-11,238 |
| 13 years | $-11,074 |
| 15 years | $-10,909 |
| 17 years | $-10,745 |
| 19 years | $-10,580 |
| 21 years | $-10,416 |
| 23 years | $-10,251 |
| 25 years | $-10,086 |
Top Solar Installers in Lackawaxen
When going solar, many homeowners opt to use a solar company since installing a solar system yourself can be a difficult project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Lackawaxen:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Lackawaxen
Factors that Affect Solar Panel Costs in Lackawaxen
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,550. The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Lackawaxen provide solar loans, which reduce the initial cost of installing solar. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Lackawaxen, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $10,628 | 12.8 years |
| 8 kW | $2.60 | $14,566 | $14,456 | 12.5 years |
| 10 kW | $2.55 | $17,850 | $18,427 | 12.3 years |
| 12 kW | $2.50 | $20,992 | $22,540 | 12.1 years |
| 14 kW | $2.45 | $23,990 | $26,797 | 11.8 years |
| 16 kW | $2.40 | $26,846 | $31,196 | 11.6 years |
| 18 kW | $2.35 | $29,560 | $35,738 | 11.3 years |
| 20 kW | $2.29 | $32,130 | $40,423 | 11.1 years |
How to Save on Solar Panels
There are numerous companies to choose from in Lackawaxen, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The model of solar panel you need plays a role in which installer you should choose, since different companies provide different panels.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Lackawaxen, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lackawaxen?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,750 for a 5-kW system and $25,500 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 above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lackawaxen have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Lackawaxen?
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 how much energy they produce 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.