Solar Panel Cost Guide in Lorane, PA (Mar 2023)
- Lorane Solar Installation Cost: $11,870
- 25-Year Savings: $13,727
- Payback Period: 11.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lorane
Find out what the average cost of a solar system is in Lorane.
In Lorane, solar panels cost about 2.55 per watt on average. Using this figure, a typical 6.7-kW system would cost about $11,870 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on factors unique to your home and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Lorane can save about $15,000 on their energy bills over 20 years.
To get a free quote from a vetted solar installation company in Lorane, you can click the button below.
Solar savings over time in Lorane
| Year | Return on Investment |
|---|---|
| 1 years | $-10,846 |
| 3 years | $-8,799 |
| 5 years | $-6,751 |
| 7 years | $-4,703 |
| 9 years | $-2,655 |
| 11 years | $-607 |
| 13 years | $1,440 |
| 15 years | $3,488 |
| 17 years | $5,536 |
| 19 years | $7,584 |
| 21 years | $9,631 |
| 23 years | $11,679 |
| 25 years | $13,727 |
Top Solar Installers in Lorane
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be hard. Plus, if you aren't sure what brand of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Lorane:
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 Lorane
Factors that Affect Solar Panel Costs in Lorane
For many Lorane homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Lorane, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,550 per kilowatt in Lorane. The model of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Lorane, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Lorane know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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
There are numerous companies available in Lorane, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: When looking over your solar company'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 part breaking or if the company goes out of business.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
- Solar Panel Brands: Different companies have various brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Lorane, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lorane?
This is a hard question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost 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 it worth going solar in Lorane?
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 a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.