Solar Panel Cost Calculator Massachusetts

How You Pay For The System

Paying for your solar panels upfront means that you are the owner of your system. Owning gives you some substantial benefits, including an increased home value. If buying your system outright isnt an option, look into solar loans and solar leases. Each offers $0 down, and your monthly payments will most likely be less than your current electric bill.

It is important to note that you are not the owner when leasing a solar system the company you lease from is. Only the owner can claim the tax credits and rebates.

Solar Installation Cost Calculator

Compare the cost of solar installation from the top companies in Boston, MA. The total amount you can save will depend on the size of your home as well as other factors. Use our fee cost guide to compare quotes in your area. If youre considering solar installation in Boston then expect to invest $10,007 $15,395 for smaller homes, while larger homes requiring more kilowatts will run upwards of $21,445 $55,953.

Pros of Solar

• Protection against rising power costs

Cons of Solar

• Take a while to recover investment
• Cant take it with you if you move
• Weather dependent

Solar Installation within 50 miles of these zip codes:02108, 02109, 02110, 02111, 02113, 02114, 02115, 02116, 02118, 02119, 02120, 02121, 02122, 02124, 02125, 02126, 02127, 02128, 02129, 02130

Counties Served: Suffolk County

What Is The Cost Of Solar Across Massachusetts

Many homeowners are confused about how much they should expect to pay for solar on their home. While prices vary greatly based on power needs, sun exposure and choice of financing options, weve compiled data on the average costs that homeowners in Massachusetts could expect to pay for solar.

Weve compiled this cost data in our Cost of Solar Index. The graph above shows how much you can expect to pay, on average, per kW of solar installed in Massachusetts. We also include the price that homeowners are paying on average for entire systems in our individual regional summary pages.

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Are Solar Panels Worth It In Massachusetts

Yes, solar is worth it in Massachusetts! In fact, solar panels are worth it in most areas, though certain factors including the cost of electricity, available incentives, the climate, and sun angle will all impact how quickly you break even on your investment relative to other areas. Over 20 years you can expect to save $33,920 by installing an average-sized solar system . If you choose to finance your system with a $0-down loan, you can start saving on day one in Massachusetts . To learn more, check out our articles about why solar is worth it and how much you can save by going solar.

What Rebates And Incentives Are There In Massachusetts For Solar

The federal investment tax credit, now referred to as the Residential Clean Energy Credit for residential systems, has been one of the most reliable and impactful incentives for solar across the U.S. This solar incentive allows you to deduct 30 percent of the total system cost from your federal taxes. For example, a solar energy system installation that costs $15,000 out of pocket will qualify for a tax deduction of $4,500. For residential systems, this advantageous incentive lasts until the end of 2032 at which point it steps down to 26 percent. The federal ITC drops to 22 percent in 2034 and is eliminated for residential solar installations in 2035. Commercial systems are eligible at least through 2024, but may not be eligible for the full 30 percent depending on certain labor and domestic manufacturing requirements they also may be eligible for specific ITC adders.

Besides the federal ITC, Massachusetts has additional incentives for going solar that are dependent on your area and utility company. Of note are the availability of net metering, cash incentives from selling Solar Renewable Energy Certificates , low-interest loans from the Mass Solar Loan Program, and tax exemptions for sales and property taxes. To learn more about Massachusettss best financial incentives for solar, check out our complete overview of the states best solar incentives.

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Why Solar Panels Make Sense For A Home

Check out our 10 Reasons to Go Solar guide for a deep dive into the biggest benefits of going solar in Northern New England.

Though it’s still only an estimate, our Solar Calculator calculates the number panels you’ll need and the associated costs. Our team regularly monitors and updates the calculations used behind the scenes, and makes sure all the variables going into the calculator are up to date. We use the following to create your custom estimate:

How Much Money Will I Save If I Get Solar Panels

Savings can vary depending on the size of your home and your PV solar energy system. On average, solar panel owners save between $10,000 and $30,000 over the lifetime of their solar panel system. Many homeowners never have to worry about paying electricity bills. Want to know the exact figure for your home? Contact us, and we will do a free assessment for your home.

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Utilizing Professional Solar Installers

Although many do-it-yourself enthusiasts may very well be tempted to make an attempt at installing solar panels for their home, there are obvious benefits to employing a professional.

Firstly, you can be assured of receiving a quality service. Professionals generally have significant experience and will have undergone extensive training. Therefore, they are much less likely to make mistakes than a do-it-yourself enthusiast. Whats more however, solar panel installers are a very good source for discounts, as well as special purchasing programs.

What Size Solar Panel System Do You Need

The average home uses 905 kWh per month, or around 10,850 kWh per year, in electricity. That means that an average-sized home with a decent amount of sunshine could install a 5 kW to 6 kW solar panel system to help reduce utility bills.

You may want to learn about your sun number score for solar, which is calculated based on your homes location and average sunlight exposure. Also, explore the different solar panel dimensions and sizes with your contractor for more context.

The larger the solar panel system you install for your home, the lower the cost per watt will be. The cost per watt including solar panels, parts, labor costs, permits, and overhead is between $6 a watt and $8 a watt.

With solar panels, the money you save on your electricity bills can more than earn back your initial installation costs in seven to 20 years. Solar rebates and incentives when available from both the government and local energy providers can also help speed up your return on investment. You may also be able to participate in selling excess electricity from your solar panels a process known as net metering in your area.

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How Does The Cost Of Solar Power Compare To The Electricity Rates Charged By A Utility

Levelized cost of power from this typical solar system installed on a home in Massachusetts over 25 years is 1.7 cents/kWh.

Average cost of utility power over 25 years is 41.6 cents/kWh. This shows that solar is a far cheaper way to power your home in Massachusetts over the long term. The way we calculate the average cost of utility power is by assuming the current utility electric rates will grow each year at a compound rate of 3.5%. Actual inflation may be higher or lower than this but either way this analysis shows that solar is a clearly better choice.

Why Solar Panel Cost Should Not Be Your Only Consideration When Buying Solar Panels For Your Home

The most important difference between buying solar panels and any other purchase is that solar panels last 25-30 years. This is a long, long time and you will need customer service over all that time. The reviews below of the two largest corporate solar installation companies indicate larger corporate solar companies are not delivering this support to their customers.

We recommend you find a small or mid-size, local, family-owned solar company. These companies tend to care more about you and your specific job. You don’t want to be on hold to a corporation’s call center for the next 25 years!

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How Much Do Solar Panels Cost In Massachusetts

As noted, installing solar energy projects in Massachusetts is more expensive than the U.S. average. Based on market research and data from top solar brands, the average cost of solar panels in Massachusetts is about $2.94 per watt. Compared with the U.S. average of $2.66 per watt, residents of Massachusetts can expect to pay about 11% more.

Of course, the cost per watt is just a normalizing metric, but how much an individual project will cost depends on total system characteristics. For an average-sized solar power installation project of about 5 kilowatts , someone in Massachusetts can expect to pay an all-in cost of $10,290 after the federal solar tax credit is applied.

This value changes based on the size of the project, and the following table of potential system capacities highlights how that can fluctuate:

Calculating Solar Power Costs And Savings

If youre unsure if a solar panel system is right for your home, use this solar calculator to estimate your potential costs and savings. Our calculator weighs several factors including your homes location, size, roof structure, and current energy usage. Youll get a better picture of your estimated cost, long-term savings and payback period.

Not surprisingly, many of the above states top the SEIAs list of top cumulative solar electric capacity, including Arizona, Texas, California, Nevada and Florida. But some states that have the most solar panel systems including North Carolina, New Jersey, Massachusetts and New York are not necessarily the sunniest. Residential solar systems in states that are sunnier will typically perform better.

The most significant cost impact in terms of location is not geography its legislation. While sunnier states tend to have more solar power output, states that have solar incentives such as a solar investment tax credit and other solar-friendly programs tend to have high output levels as well, regardless of sun exposure.

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How Do I Pay For Solar Panels

If your state doesnt offer solar rebates, you may still be eligible for state-issued Solar Renewable Energy Credits . Some states allow you to earn and sell credits for the electricity your solar system produces through a net-metering program. And many states offer a solar investment tax credit or other similar incentives to help offset the total cost of your solar panel system and maximize savings on utility bills.

The federal government also offers the solar Investment Tax Credit . Created in 2005, this federal solar tax credit is available in all states, including those with no SRECs or state rebates. The 30% tax credit applies to solar energy systems installed between 2022 and 2032. The tax credit value will decrease to 26% in 2033 and 22% in 2034.

Although payment options vary, most solar companies offer at least two of the following choices: purchasing the residential solar power system outright, signing a solar lease or power purchase agreement or taking out a solar loan. Keep in mind that a solar lease or PPA will disqualify you from receiving the federal solar tax credit and state incentives since they apply only to the owners of the solar panels. Certain financing options can also add to your overall solar system costs. For example, solar loans include interest rates that result in higher long-term payments.

Massachusetts Is A Remarkable Place To Create And Store Your Own Solar Energy

Aside from Massachusetts remarkable solar tax incentives and rebate programs, our home solar panel and battery storage plans start at $0 down. What’s more, if youre a customer of Eversource, National Grid, Unitil, or any other utility company in Massachusetts, you could earn bill credits for the excess solar power you produce thanks to their net energy metering programs.13 With net metering in Massachusetts, you might save money on your future energy costs.

Sunrun is one of the best solar installers in Massachusetts that you can team up with. If youre curious about creating and storing your own Massachusetts solar energy, use our Product Selector or request a free quote to get one-on-one service from our expert Solar Advisors. It wont cost you a dime to find out if our solar solutions are right for your energy needs.

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Should You Lease Solar Panels

There are several payment options that bundle solar installation costs into a consumers electric bill, either as a solar panel leasing option or as a power purchase agreement . Solar leases allow the homeowner to install solar panels without paying anything up front reducing the overall solar panel cost. After the panels are installed, the homeowner pays only a flat monthly fee. The fee includes the installation costs, which are spread out over time, and the cost of electricity supply.

Average Cost Of Solar Panels In Massachusetts Per Square Foot

The system size varies depending on several things. One of these may be the home size. While some smaller homes have higher electrical needs and some larger homes have fewer electrical needs, your homes energy consumption typically increases with size. For this reason, it is common to install larger systems on larger homes.

However, your actual energy usage combined with how much you want to lower your dependency on the grid dictates your ultimate project costs. Homes of any size can have a wide range of systems installed. Below are the average costs associated with installing solar energy on homes in Massachusetts of varying sizes.

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Solar Incentives Rebates And Tax Credits

• Federal ITCThe federal solar investment tax credit is one of the most generous incentives nationwide. With this tax credit, the amount you pay in taxes is reduced by 26 percent of your solar systems total cost. For example, a $10,000 system will give you a $2,600 credit towards your federal taxes. This incentive wont last- the credit amount drops down to 22% after 2022 and will be phased out after 2023.
• Massachusetts solar incentivesMany states and municipalities offer solar incentives that can further reduce your total cost. The solar company should clearly explain the programs you qualify for and how much money you will save.

Solar Information & Programs

Learn about how solar energy works and available incentive programs in Massachusetts

Many people have the misconception that solar systems do not work in Massachusetts, due to New England’s diverse weather conditions. However, the experts agree that Massachusetts is an excellent location for solar systems. This section describes the different types of solar energy and how they are used in Massachusetts. In addition, find out what solar programs and incentives are currently available for your home, business, or institution.

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Is Your State A Good Candidate For Solar

Solar power is used in different capacities by homeowners across all 50 states, but some inevitably do better than others. Thats why where you live can play a critical factor when it comes to deciding if your home is a good candidate for solar energy.

According to a report released by the Solar Energy Industries Association in January and based on annual data collected throughout 2021, these are the top states for cumulative solar electric capacity installed.

The low rankings are because of a combination of factors including less sunlight in some cases, reliance on coal facility-based labor , and long winters.

Cost Of Solar Panels In Massachusetts By Cell Type

Solar panels can be made in several ways and are generally broken into three categories. The first is polycrystalline, which is made of pieces of silicon crystals that are pieced together. These panels are less expensive but not as efficient as other types. They are bright blue and slightly higher in profile than monocrystalline panels, so they are more visible from the ground. This makes them not as common as monocrystalline panels.

Thin film panels are slightly less expensive than monocrystalline panels but much thinner in profile. They work best in areas with less strong sunlight, but are not as efficient as monocrystalline panels.

Monocrystalline panels are the third and most efficient type, as well as the most popular. They are also the most expensive. They have a sleek black appearance and a slightly lower profile than polycrystalline panels. These panels produce the most energy if your home has direct exposure to southern sunlight. Below are the average costs to install a 6 kW system in Massachusetts based on the different panels.

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How Many Solar Panels Do I Need

Well, it is indeed very important to know the exact number of solar panels according to the roof area. This is because it helps you to calculate solar power to run the load you want to. No doubt our free solar panel calculator is a definite advantage to do such calculations in seconds but you must understand the way you can do it manually. So for such computations, get through the generic expression below:

Number of Panels = System Size / Single Panel Size

Here let us code one fact that the system and panel size do not correspond to the actual dimensions. The size of the system refers to the actual solar power calculations a person may hope to get from the panels. So if you want to get an estimation about the solar panel output, you may use this best solar calculator.