Solar Panel Cost Guide in Lawrence Park, PA (Mar 2023)
- Lawrence Park Solar Installation Cost: $12,370
- 25-Year Savings: $18,229
- Payback Period: 10.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lawrence Park
Find out what the average cost of solar panel installation is in Lawrence Park.
The average cost of a solar system in Lawrence Park is 2.55 per watt. The average Lawrence Park homeowner needs a 6.9-kilowatt system, which would cost about $12,370 with the federal tax credit, or $17,689 before the 30% tax credit is applied.
The true cost of your system can go higher or lower than the average in Lawrence Park depending on a few factors, such as the model of solar panels you choose and the solar company you hire. With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Lawrence Park find investing in solar can pay off big.
To calculate 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 | $-11,146 |
| 3 years | $-8,698 |
| 5 years | $-6,250 |
| 7 years | $-3,802 |
| 9 years | $-1,354 |
| 11 years | $1,094 |
| 13 years | $3,542 |
| 15 years | $5,990 |
| 17 years | $8,437 |
| 19 years | $10,885 |
| 21 years | $13,333 |
| 23 years | $15,781 |
| 25 years | $18,229 |
Top Solar Installers in Lawrence Park
Although it's possible to install solar panels yourself, it requires extra energy and expertise. For that reason, the majority of homeowners choose to go with a solar panel installer. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Lawrence Park
Factors that Affect Solar Panel Costs in Lawrence Park
For many Lawrence Park homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Lawrence Park, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond 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 searching for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Lawrence Park to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lawrence Park is the company you get to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different price points. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 positive reviews from previous customers.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model 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.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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.