Solar Panel Cost Guide in Lorane, PA (2024 Update)
- Lorane Solar Installation Cost: $16,528
- 25-Year Savings: $13,725
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Lorane
Here’s how much it might cost to go solar in Lorane.
The national average cost of solar panels is $2.66 per watt, but in Lorane it’s 4 per watt.To cover the typical energy needs of the average home in Lorane, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs about $16,528, or $23,635 before the federal solar tax credit of 0 is applied.
Remember 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 panels you choose, your solar contractor and more.With average savings of about $15,000 on energy bills over 20 years, many homeowners in Lorane find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar panel company in Lorane for a customized quote.
Solar savings over time in Lorane
| Year | Return on Investment |
|---|---|
| 1 years | $-15,285 |
| 3 years | $-12,799 |
| 5 years | $-10,313 |
| 7 years | $-7,827 |
| 9 years | $-5,341 |
| 11 years | $-2,855 |
| 13 years | $-369 |
| 15 years | $2,117 |
| 17 years | $4,603 |
| 19 years | $7,089 |
| 21 years | $9,575 |
| 23 years | $12,061 |
| 25 years | $14,547 |
Top Solar Installers in Lorane
Many homeowners decide to use a solar panel installer since trying to put up solar panels on your own can be time-consuming. Another great thing about choosing a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Lorane
Factors that Affect Solar Panel Costs in Lorane
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Lorane: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,550.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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, more efficient panels could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Lorane average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lorane to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Lorane, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $3.69 | $15,506 | $7,585 | 16.8 years |
| 8 kW | $3.62 | $20,278 | $10,511 | 16.5 years |
| 10 kW | $3.55 | $24,850 | $13,636 | 16.1 years |
| 12 kW | $3.48 | $29,224 | $16,960 | 15.8 years |
| 14 kW | $3.41 | $33,398 | $20,482 | 15.5 years |
| 16 kW | $3.34 | $37,374 | $24,203 | 15.2 years |
| 18 kW | $3.27 | $41,152 | $28,123 | 14.9 years |
| 20 kW | $3.19 | $44,730 | $32,242 | 14.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Different companies have various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: If you’re worried about the longevity of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Lorane, PA Solar Cost FAQs
How much does it cost to install solar panels in Lorane?
The average cost of solar panels in Lorane is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last 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 higher 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.