Solar Panel Cost Guide in Lawrence Park, PA (2024 Update)
- Lawrence Park Solar Installation Cost: $17,209
- 25-Year Savings: $18,238
- Payback Period: 14.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lawrence Park
Let’s take a look at the average cost of solar panels in Lawrence Park.
The average cost of solar panels in Lawrence Park is 4 per watt.The average solar panel system size in Lawrence Park is around 6.9 kilowatts, meaning a cost of about $17,209 for a solar installation, or $24,609 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Lawrence Park depending on several factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $17,000 on power bills over 20 years, many homeowners in Lawrence Park find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lawrence Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,732 |
| 3 years | $-12,777 |
| 5 years | $-9,822 |
| 7 years | $-6,867 |
| 9 years | $-3,912 |
| 11 years | $-957 |
| 13 years | $1,998 |
| 15 years | $4,953 |
| 17 years | $7,908 |
| 19 years | $10,863 |
| 21 years | $13,818 |
| 23 years | $16,772 |
| 25 years | $19,727 |
Top Solar Installers in Lawrence Park
Trying to put up solar panels by yourself can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a vetted solar installer can make going solar easier. 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 Lawrence Park
Factors that Affect Solar Panel Costs in Lawrence Park
Though the average cost of a solar system in Lawrence Park is $17,209, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Lawrence Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,550 for each additional kilowatt you need.The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lawrence Park is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Lawrence Park have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.69 | $15,506 | $11,004 | 14.6 years |
| 8 kW | $3.62 | $20,278 | $15,070 | 14.3 years |
| 10 kW | $3.55 | $24,850 | $19,335 | 14.1 years |
| 12 kW | $3.48 | $29,224 | $23,798 | 13.8 years |
| 14 kW | $3.41 | $33,398 | $28,460 | 13.5 years |
| 16 kW | $3.34 | $37,374 | $33,321 | 13.2 years |
| 18 kW | $3.27 | $41,152 | $38,381 | 12.9 years |
| 20 kW | $3.19 | $44,730 | $43,639 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies available in Lawrence Park, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Lawrence Park, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lawrence Park?
The average cost of solar panels in Lawrence Park is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Lawrence Park?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your property value?
Solar panels can increase your property’s value considerably 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% after installing solar panels."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out 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 household 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.