Solar Panel Cost Guide in Lake, PA (2024 Update)
- Lake Solar Installation Cost: $17,175
- 25-Year Savings: $12,403
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Lake
Find out what the average cost of installing solar panels is in Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake, the average cost of a solar system is 4 per watt.The average solar panel system size in Lake is around 6.9 kilowatts, meaning a cost of about $17,175 for a solar installation, or $24,560 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.Many homeowners find going solar is a solid investment. The average homeowner in Lake can save about $14,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-15,881 |
| 3 years | $-13,292 |
| 5 years | $-10,704 |
| 7 years | $-8,115 |
| 9 years | $-5,526 |
| 11 years | $-2,938 |
| 13 years | $-349 |
| 15 years | $2,239 |
| 17 years | $4,828 |
| 19 years | $7,416 |
| 21 years | $10,005 |
| 23 years | $12,594 |
| 25 years | $15,182 |
Top Solar Installers in Lake
Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Lake
Factors that Affect Solar Panel Costs in Lake
There are many factors that can determine 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.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Lake, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Lake, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lake is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.69 | $15,506 | $5,970 | 18.1 years |
| 8 kW | $3.62 | $20,278 | $8,358 | 17.7 years |
| 10 kW | $3.55 | $24,850 | $10,945 | 17.4 years |
| 12 kW | $3.48 | $29,224 | $13,730 | 17.0 years |
| 14 kW | $3.41 | $33,398 | $16,714 | 16.7 years |
| 16 kW | $3.34 | $37,374 | $19,897 | 16.3 years |
| 18 kW | $3.27 | $41,152 | $23,279 | 16.0 years |
| 20 kW | $3.19 | $44,730 | $26,859 | 15.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Lake, 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:
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should opt for, since different companies have access to different panels.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Lake, PA Solar Cost FAQs
How much does it cost to install solar panels in Lake?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lake?
Solar panels aren’t free in Lake, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.