Solar Panel Cost Guide in Lawrence, WI (2025 Update)
- Lawrence Solar Installation Cost: $18,890
- 25-Year Savings: $25,433
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Lawrence
Here’s how much it might cost to install solar panels in Lawrence.
In Lawrence, solar panels cost about 4 per watt on average.The average Lawrence homeowner needs a 7.0-kilowatt system, which would cost about $18,890 with the federal tax credit, or $27,013 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lawrence homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the high initial cost, the average Lawrence homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a highly rated solar installation company in Lawrence, you can click the button below.
Solar savings over time in Lawrence
| Year | Return on Investment |
|---|---|
| 1 years | $-17,594 |
| 3 years | $-15,003 |
| 5 years | $-12,412 |
| 7 years | $-9,821 |
| 9 years | $-7,230 |
| 11 years | $-4,639 |
| 13 years | $-2,048 |
| 15 years | $543 |
| 17 years | $3,134 |
| 19 years | $5,725 |
| 21 years | $8,315 |
| 23 years | $10,906 |
| 25 years | $13,497 |
Top Solar Installers in Lawrence
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a lot of work. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Lawrence
Factors that Affect Solar Panel Costs in Lawrence
There are a number of criteria that can affect 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 for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,880. There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, 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
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Lawrence, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your all-in costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Lawrence, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lawrence 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 end up saving you 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 | $4.04 | $16,948 | $15,913 | 12.9 years |
| 8 kW | $3.96 | $22,163 | $21,651 | 12.6 years |
| 10 kW | $3.88 | $27,160 | $27,607 | 12.4 years |
| 12 kW | $3.80 | $31,940 | $33,781 | 12.1 years |
| 14 kW | $3.72 | $36,503 | $40,171 | 11.9 years |
| 16 kW | $3.65 | $40,849 | $46,779 | 11.7 years |
| 18 kW | $3.57 | $44,977 | $53,604 | 11.4 years |
| 20 kW | $3.49 | $48,888 | $60,647 | 11.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
EcoWatch's Lawrence, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lawrence?
The average cost of solar panels in Lawrence is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last 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.