Solar Panel Cost Guide in Lynnfield, MA (2024 Update)
- Lynnfield Solar Installation Cost: $12,074
- 25-Year Savings: $15,035
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Lynnfield
We go over average solar pricing in Lynnfield.
While the national average of solar panels is $2.66 per watt, solar panels in Lynnfield generally cost about 4.The average solar panel system size in Lynnfield is around 4.2 kilowatts, meaning a cost of about $12,074 for a solar installation, or $17,266 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lynnfield homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large upfront cost, the average Lynnfield homeowner can save around $21,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar installer in your area for a personalized quote.
Solar savings over time in Lynnfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,574 |
| 3 years | $-7,572 |
| 5 years | $-4,571 |
| 7 years | $-1,570 |
| 9 years | $1,431 |
| 11 years | $4,432 |
| 13 years | $7,433 |
| 15 years | $10,434 |
| 17 years | $13,435 |
| 19 years | $16,436 |
| 21 years | $19,437 |
| 23 years | $22,438 |
| 25 years | $25,440 |
Top Solar Installers in Lynnfield
Although it's possible to install solar panels by yourself, it involves extra time and expertise. Because of that, almost all homeowners choose to go with a solar panel installer. Some solar companies, especially local ones, can help you make the most of incentives in Lynnfield, thereby optimizing your ROI.
If you're on the hunt for a solar company in Lynnfield, the EcoWatch team has organized a list of our top suggestions here:
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 Lynnfield
Factors that Affect Solar Panel Costs in Lynnfield
There are many criteria that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lynnfield, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular route because they lower 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 loans, including the total 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 remarkably.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Lynnfield, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $4.22 | $17,734 | $15,848 | 13.2 years |
| 8 kW | $4.14 | $23,191 | $21,585 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,550 | 12.7 years |
| 12 kW | $3.98 | $33,422 | $33,742 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,161 | 12.2 years |
| 16 kW | $3.82 | $42,744 | $46,808 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $53,682 | 11.7 years |
| 20 kW | $3.65 | $51,156 | $60,784 | 11.4 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 selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: If you’re concerned about the endurance of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Lynnfield, MA Solar Cost FAQs
How much does it cost to install solar panels in Lynnfield?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key 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 consider are the quality and durability of your solar panels.
Do solar panels increase the value of your home?
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 Lynnfield is currently $1,000,680, so you can look forward to a value of about $41,028 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lynnfield is a rewarding investment.
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 stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.