Solar Panel Cost Guide in Lorane, PA (2023 Update)
- Lorane Solar Installation Cost: $11,872
- 25-Year Savings: $13,725
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lorane
Find out how much it might cost to go solar in Lorane.
Although the national average of solar panels is $2.66 per watt, solar panels in Lorane typically cost about 2.55. To account for the typical energy usage of the average home in Lorane, most homeowners require a 6.7-kilowatt system. Using the figure above, a solar installation costs about $11,870, or $16,974 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you will differ based on your energy needs and what company you choose to go with. With typical savings of about $15,000 on power bills over 20 years, many homeowners in Lorane find investing in solar can pay off big.
You can click the button below to get connected with a vetted solar company in Lorane that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lorane
| Year | Return on Investment |
|---|---|
| 1 years | $-10,629 |
| 3 years | $-8,143 |
| 5 years | $-5,657 |
| 7 years | $-3,171 |
| 9 years | $-685 |
| 11 years | $1,801 |
| 13 years | $4,287 |
| 15 years | $6,773 |
| 17 years | $9,259 |
| 19 years | $11,745 |
| 21 years | $14,230 |
| 23 years | $16,716 |
| 25 years | $19,202 |
Top Solar Installers in Lorane
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be challenging. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for your family.
If you're searching for a solar installer in Lorane, we've compiled 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 Lorane
Factors that Affect Solar Panel Costs in Lorane
The cost of installing a solar system in Lorane can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, 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 about $2,550. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Lorane average.
Solar Financing Terms
Most solar installers in Lorane offer solar loans, which reduce the initial cost of installing solar. It's a good idea to add 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining the cost. Lorane's solar companies all have different labor costs and add varying upcharges to equipment. 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 decide on the company that provides the products, warranties and services you're looking for and also fits within 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 | $11,953 | 12.1 years |
| 8 kW | $2.60 | $14,566 | $16,223 | 11.8 years |
| 10 kW | $2.55 | $17,850 | $20,636 | 11.6 years |
| 12 kW | $2.50 | $20,992 | $25,192 | 11.4 years |
| 14 kW | $2.45 | $23,990 | $29,890 | 11.1 years |
| 16 kW | $2.40 | $26,846 | $34,731 | 10.9 years |
| 18 kW | $2.35 | $29,560 | $39,715 | 10.7 years |
| 20 kW | $2.29 | $32,130 | $44,842 | 10.4 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Contract: When looking 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 like a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
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 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 $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lorane?
A solar panel system isn't free in Lorane, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Lorane?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.