Solar Panel Cost Guide in Lynn, PA (2024 Update)
- Lynn Solar Installation Cost: $16,591
- 25-Year Savings: $13,036
- Payback Period: 16.6 Years
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Average Cost of Solar Panels in Lynn
Let’s take a look at the average cost of solar in Lynn.
In Lynn, solar panels cost about 4 per watt on average.Since a 6.7-kW system is needed to cover the energy usage of a typical home in Lynn, the average price of going solar will be about $16,591 after claiming the federal solar tax credit of 0.
These figures are just estimates, and the cost of going solar for you will most likely differ based on your energy needs and what company you want to go with.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
Click the button below to get connected to a top solar company in Lynn for a customized estimate.
Solar savings over time in Lynn
| Year | Return on Investment |
|---|---|
| 1 years | $-15,348 |
| 3 years | $-12,862 |
| 5 years | $-10,376 |
| 7 years | $-7,890 |
| 9 years | $-5,405 |
| 11 years | $-2,919 |
| 13 years | $-433 |
| 15 years | $2,053 |
| 17 years | $4,539 |
| 19 years | $7,025 |
| 21 years | $9,511 |
| 23 years | $11,997 |
| 25 years | $14,483 |
Top Solar Installers in Lynn
Trying to install solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
If you're looking for a solar company in Lynn, the EcoWatch team has put together 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 Lynn
Factors that Affect Solar Panel Costs in Lynn
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that determine your overall cost in Lynn: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
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 assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Lynn homeowners opt to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Lynn, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $3.69 | $15,506 | $6,919 | 17.3 years |
| 8 kW | $3.62 | $20,278 | $9,623 | 17.0 years |
| 10 kW | $3.55 | $24,850 | $12,525 | 16.6 years |
| 12 kW | $3.48 | $29,224 | $15,627 | 16.3 years |
| 14 kW | $3.41 | $33,398 | $18,927 | 16.0 years |
| 16 kW | $3.34 | $37,374 | $22,426 | 15.6 years |
| 18 kW | $3.27 | $41,152 | $26,124 | 15.3 years |
| 20 kW | $3.19 | $44,730 | $30,020 | 15.0 years |
How to Save on Solar Panels
There are many companies to choose from in Lynn, 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:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you want a specific brand, make sure the solar panel company 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 Lynn, PA Solar Cost FAQs
What is the average cost of installing solar panels in Lynn?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will be more expensive 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 opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lynn?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
Do solar panels increase your property value?
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 Lynn is currently $320,502, so you could be looking at a value of about $13,141 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lynn is a fruitful investment.
How often do you have to replace solar panels?
Although 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 after having them for that long or you can keep using 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.