Solar Panel Cost Guide in Beverly, MA (2024 Update)
- Beverly Solar Installation Cost: $12,074
- 25-Year Savings: $16,888
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Beverly
Find out what the average cost of solar panels are in Beverly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Beverly, the average cost of a solar system is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $12,074 before the 0 federal solar tax credit is applied.
How much you pay can go above or below the average in Beverly based on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $23,000 over 20 years on utility bills.
To receive a free quote from a pre-vetted solar installation company in Beverly, you can click the button below.
Solar savings over time in Beverly
| Year | Return on Investment |
|---|---|
| 1 years | $-10,351 |
| 3 years | $-6,904 |
| 5 years | $-3,457 |
| 7 years | $-10 |
| 9 years | $3,437 |
| 11 years | $6,884 |
| 13 years | $10,331 |
| 15 years | $13,777 |
| 17 years | $17,224 |
| 19 years | $20,671 |
| 21 years | $24,118 |
| 23 years | $27,565 |
| 25 years | $31,012 |
Top Solar Installers in Beverly
Putting up solar panels yourself can be a time-consuming task, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Beverly
Factors that Affect Solar Panel Costs in Beverly
The cost of installing a solar system in Beverly can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 can expect 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 increase the cost.
Solar Financing Terms
Most solar companies in Beverly provide solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can impact how much you pay. Beverly’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $18,464 | 12.2 years |
| 8 kW | $4.14 | $23,191 | $25,074 | 12.0 years |
| 10 kW | $4.06 | $28,420 | $31,911 | 11.8 years |
| 12 kW | $3.98 | $33,422 | $38,975 | 11.5 years |
| 14 kW | $3.90 | $38,196 | $46,267 | 11.3 years |
| 16 kW | $3.82 | $42,744 | $53,786 | 11.1 years |
| 18 kW | $3.74 | $47,064 | $61,532 | 10.8 years |
| 20 kW | $3.65 | $51,156 | $69,506 | 10.6 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Beverly, MA Solar Cost FAQs
How much does it cost to install solar panels in Beverly?
The average cost of solar panels in Beverly is about $20,300 for a 5-kW system and $40,600 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 consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Beverly?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Beverly?
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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.