Solar Panel Cost Guide in Lincoln, RI (2025 Update)
- Lincoln Solar Installation Cost: $11,860
- 25-Year Savings: $13,671
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Lincoln
Let’s take a look at the average cost of solar in Lincoln.
In Lincoln, solar panels cost about 4 per watt on average.The average solar panel system size in Lincoln is around 4.2 kilowatts, meaning a cost of about $11,860 for a solar installation, or $16,960 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you choose to go with.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $20,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-10,329 |
| 3 years | $-7,267 |
| 5 years | $-4,205 |
| 7 years | $-1,143 |
| 9 years | $1,919 |
| 11 years | $4,981 |
| 13 years | $8,043 |
| 15 years | $11,105 |
| 17 years | $14,168 |
| 19 years | $17,230 |
| 21 years | $20,292 |
| 23 years | $23,354 |
| 25 years | $26,416 |
Top Solar Installers in Lincoln
Many homeowners choose to use a solar installation company since installing solar panels yourself can be time-consuming. Plus, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Lincoln
Factors that Affect Solar Panel Costs in Lincoln
Even though the average cost of a solar system in Lincoln is $11,860, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 $4,070.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.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’re only able to 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a role in determining your pricing. Lincoln’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally 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 | $4.23 | $17,778 | $13,854 | 14.1 years |
| 8 kW | $4.15 | $23,248 | $18,928 | 13.8 years |
| 10 kW | $4.07 | $28,490 | $24,230 | 13.5 years |
| 12 kW | $3.99 | $33,504 | $29,760 | 13.2 years |
| 14 kW | $3.91 | $38,291 | $35,518 | 13.0 years |
| 16 kW | $3.83 | $42,849 | $41,503 | 12.7 years |
| 18 kW | $3.74 | $47,179 | $47,717 | 12.4 years |
| 20 kW | $3.66 | $51,282 | $54,159 | 12.2 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. Because choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
EcoWatch's Lincoln, RI Solar Cost FAQs
How much does it cost to install solar panels in Lincoln?
The average cost of solar panels in Lincoln is about $20,350 for a 5-kW system and $40,700 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lincoln?
Solar panels aren’t free in Lincoln, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Lincoln have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.