Solar Panel Cost Guide in Lakeville, MA (2024 Update)
- Lakeville Solar Installation Cost: $11,760
- 25-Year Savings: $16,208
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Lakeville
See how much it might cost to install solar panels in Lakeville.
In Lakeville, solar panels cost about 4 per watt on average.The average Lakeville homeowner needs a 4.1-kilowatt system, which would cost about $11,760 with the federal tax credit, or $16,817 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average Lakeville homeowners see about $23,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lakeville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,159 |
| 3 years | $-6,956 |
| 5 years | $-3,754 |
| 7 years | $-551 |
| 9 years | $2,652 |
| 11 years | $5,854 |
| 13 years | $9,057 |
| 15 years | $12,259 |
| 17 years | $15,462 |
| 19 years | $18,665 |
| 21 years | $21,867 |
| 23 years | $25,070 |
| 25 years | $28,273 |
Top Solar Installers in Lakeville
Although it's possible to install solar panels yourself, it requires extra effort and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Lakeville
Factors that Affect Solar Panel Costs in Lakeville
Though the average cost of a solar system in Lakeville is $11,760, your actual cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Lakeville, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lakeville is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that offer a range of services at different price points.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $18,115 | 12.4 years |
| 8 kW | $4.14 | $23,191 | $24,608 | 12.1 years |
| 10 kW | $4.06 | $28,420 | $31,329 | 11.9 years |
| 12 kW | $3.98 | $33,422 | $38,276 | 11.7 years |
| 14 kW | $3.90 | $38,196 | $45,452 | 11.4 years |
| 16 kW | $3.82 | $42,744 | $52,854 | 11.2 years |
| 18 kW | $3.74 | $47,064 | $60,484 | 10.9 years |
| 20 kW | $3.65 | $51,156 | $68,341 | 10.7 years |
How to Save on Solar Panels
There are many companies to choose from in Lakeville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Lakeville, MA Solar Cost FAQs
How much does it cost to install solar panels in Lakeville?
The average cost of solar panels in Lakeville is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a very important 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 keep in mind are the quality and durability of your solar panels.
Does Lakeville have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.