Solar Panel Cost Guide in Lyndon, VT (2023 Update)
- Lyndon Solar Installation Cost: $11,431
- 25-Year Savings: $22,374
- Payback Period: 8.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lyndon
Find out what the average cost of solar panel installation is in Lyndon.
The national average cost of solar panels is $2.66 per watt, but in Lyndon it's 2.87 per watt. The average Lyndon homeowner needs a 5.7-kilowatt system, which would cost about $11,431 with the federal tax credit, or $16,346 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in Lyndon based on a few factors, such as the model of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a sound investment. The average homeowner in Lyndon can save about $23,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lyndon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,079 |
| 3 years | $-7,375 |
| 5 years | $-4,670 |
| 7 years | $-1,966 |
| 9 years | $739 |
| 11 years | $3,443 |
| 13 years | $6,148 |
| 15 years | $8,852 |
| 17 years | $11,557 |
| 19 years | $14,261 |
| 21 years | $16,965 |
| 23 years | $19,670 |
| 25 years | $22,374 |
Top Solar Installers in Lyndon
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make your switch to solar power much easier. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Lyndon
Factors that Affect Solar Panel Costs in Lyndon
There are a number of criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,870. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Lyndon average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Lyndon, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. While solar loans make going solar more accessible for Lyndon homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Lyndon know more about local solar incentives and can help you learn about 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 | $2.98 | $12,536 | $23,132 | 8.8 years |
| 8 kW | $2.93 | $16,393 | $31,164 | 8.6 years |
| 10 kW | $2.87 | $20,090 | $39,357 | 8.4 years |
| 12 kW | $2.81 | $23,626 | $47,711 | 8.3 years |
| 14 kW | $2.76 | $27,001 | $56,225 | 8.1 years |
| 16 kW | $2.70 | $30,215 | $64,900 | 7.9 years |
| 18 kW | $2.64 | $33,269 | $73,736 | 7.8 years |
| 20 kW | $2.58 | $36,162 | $82,733 | 7.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
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 Lyndon, VT Solar Cost FAQs
What is the average cost of installing solar panels in Lyndon?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $14,350 for a 5-kW system and $28,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lyndon?
Solar panels aren't free in Lyndon, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will installing solar panels impact my property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.