Solar Panel Cost Guide in Lynn, PA (2024 Update)
- Lynn Solar Installation Cost: $16,591
- 25-Year Savings: $13,036
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Lynn
Let’s take a look at the average cost of solar in Lynn.
In Lynn, solar panels cost about 4 per watt on average.The average solar panel system size in Lynn is around 6.7 kilowatts, meaning a cost of about $16,591 for a solar installation, or $23,725 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Lynn can save around $14,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Lynn that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lynn
| Year | Return on Investment |
|---|---|
| 1 years | $-15,348 |
| 3 years | $-12,862 |
| 5 years | $-10,376 |
| 7 years | $-7,890 |
| 9 years | $-5,405 |
| 11 years | $-2,919 |
| 13 years | $-433 |
| 15 years | $2,053 |
| 17 years | $4,539 |
| 19 years | $7,025 |
| 21 years | $9,511 |
| 23 years | $11,997 |
| 25 years | $14,483 |
Top Solar Installers in Lynn
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make your swap to solar power much easier. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Lynn
Factors that Affect Solar Panel Costs in Lynn
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Lynn: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel 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, you can expect your total to increase by around $3,550. There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $6,919 | 17.3 years |
| 8 kW | $3.62 | $20,278 | $9,623 | 17.0 years |
| 10 kW | $3.55 | $24,850 | $12,525 | 16.6 years |
| 12 kW | $3.48 | $29,224 | $15,627 | 16.3 years |
| 14 kW | $3.41 | $33,398 | $18,927 | 16.0 years |
| 16 kW | $3.34 | $37,374 | $22,426 | 15.6 years |
| 18 kW | $3.27 | $41,152 | $26,124 | 15.3 years |
| 20 kW | $3.19 | $44,730 | $30,020 | 15.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: If you’re concerned about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Lynn, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lynn?
The average cost of solar panels in Lynn is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lynn?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lynn is currently $320,502, which means you can expect a value of about $13,141 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lynn is a worthwhile investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.