Solar Panel Cost Guide in Lawrence, PA (2023 Update)
- Lawrence Solar Installation Cost: $12,602
- 25-Year Savings: $19,235
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lawrence
Let's take a look at the average cost of solar panels in Lawrence.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lawrence, the typical cost of a solar system is 2.55 per watt. The average Lawrence homeowner needs a 7.1-kilowatt system, which would cost about $12,602 with the federal tax credit, or $18,021 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more. With average savings of about $17,000 on energy bills over 20 years, many homeowners in Lawrence find investing in solar can pay off big.
Click the button below to get connected to a highly rated solar installer in Lawrence for a customized quote.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-11,329 |
| 3 years | $-8,782 |
| 5 years | $-6,235 |
| 7 years | $-3,688 |
| 9 years | $-1,141 |
| 11 years | $1,406 |
| 13 years | $3,953 |
| 15 years | $6,500 |
| 17 years | $9,047 |
| 19 years | $11,594 |
| 21 years | $14,141 |
| 23 years | $16,688 |
| 25 years | $19,235 |
Top Solar Installers in Lawrence
Many homeowners opt for a solar installation company since figuring out how to install solar panels yourself can be a lot of work. Some solar installers, especially local ones, can help you better understand incentives in Lawrence, optimizing your ROI.
If you're on the hunt for a solar company in Lawrence, we've put together a list of our top suggestions here:
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 Lawrence
Factors that Affect Solar Panel Costs in Lawrence
There are a number of factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,550. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Lawrence, where sunlight isn't as abundant, efficiency can quickly pay off. Also, 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
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fit into your budget.
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 | $15,920 | 10.3 years |
| 8 kW | $2.60 | $14,566 | $21,512 | 10.1 years |
| 10 kW | $2.55 | $17,850 | $27,247 | 9.9 years |
| 12 kW | $2.50 | $20,992 | $33,125 | 9.7 years |
| 14 kW | $2.45 | $23,990 | $39,145 | 9.5 years |
| 16 kW | $2.40 | $26,846 | $45,309 | 9.3 years |
| 18 kW | $2.35 | $29,560 | $51,615 | 9.1 years |
| 20 kW | $2.29 | $32,130 | $58,064 | 8.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should opt for, since different companies have access to different panels.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Lawrence, PA Solar Cost FAQs
How much does it cost to install solar panels in Lawrence?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lawrence?
A solar panel system isn't free in Lawrence, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Lawrence?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.