Solar Panel Cost Guide in Lawrence Park, PA (2023 Update)
- Lawrence Park Solar Installation Cost: $12,362
- 25-Year Savings: $18,238
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lawrence Park
Let's have a look at the average cost of solar in Lawrence Park.
The national average cost of solar panels is $2.66 per watt, but in Lawrence Park it's 2.55 per watt. Because a 6.9-kW system is needed to cover the energy needs of a typical home in Lawrence Park, the average price of going solar will be about $12,370 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $17,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lawrence Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,884 |
| 3 years | $-7,929 |
| 5 years | $-4,974 |
| 7 years | $-2,019 |
| 9 years | $936 |
| 11 years | $3,891 |
| 13 years | $6,845 |
| 15 years | $9,800 |
| 17 years | $12,755 |
| 19 years | $15,710 |
| 21 years | $18,665 |
| 23 years | $21,620 |
| 25 years | $24,575 |
Top Solar Installers in Lawrence Park
Although you can install solar panels on your own, it takes extra time and handiness. That's one of the reasons most people choose to go with a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our suggestions for providers in Lawrence Park:
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 Park
Factors that Affect Solar Panel Costs in Lawrence Park
The cost of installing a solar system in Lawrence Park can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Lawrence Park average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Lawrence Park, you'll have many options to choose from, but each comes at varying price points for labor and equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $15,372 | 10.5 years |
| 8 kW | $2.60 | $14,566 | $20,782 | 10.3 years |
| 10 kW | $2.55 | $17,850 | $26,335 | 10.1 years |
| 12 kW | $2.50 | $20,992 | $32,030 | 9.9 years |
| 14 kW | $2.45 | $23,990 | $37,868 | 9.7 years |
| 16 kW | $2.40 | $26,846 | $43,849 | 9.5 years |
| 18 kW | $2.35 | $29,560 | $49,973 | 9.3 years |
| 20 kW | $2.29 | $32,130 | $56,239 | 9.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Park, PA Solar Cost FAQs
How much does it cost to install solar panels in Lawrence Park?
This is a difficult question to answer exactly, because the cost depends on a few different 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 higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Lawrence Park?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Lawrence Park?
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 amount 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.