Solar Panel Cost Guide in Billerica, MA (2023 Update)
- Billerica Solar Installation Cost: $12,674
- 25-Year Savings: $16,716
- Payback Period: 12.2 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Billerica
Here’s how much it might cost to install solar panels in Billerica.
While the national average of solar panels is $2.66 per watt, solar panels in Billerica typically cost about 4.Because a 4.5-kW system is needed to cover the energy needs of a typical home in Billerica, the average price of going solar will be about $12,674 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $22,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Billerica
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-7,503 |
| 5 years | $-4,057 |
| 7 years | $-610 |
| 9 years | $2,837 |
| 11 years | $6,284 |
| 13 years | $9,731 |
| 15 years | $13,178 |
| 17 years | $16,625 |
| 19 years | $20,072 |
| 21 years | $23,518 |
| 23 years | $26,965 |
| 25 years | $30,412 |
Top Solar Installers in Billerica
When making the switch to solar, many homeowners decide to hire a solar installation company since DIY solar panel installation can be a difficult project. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Billerica
Factors that Affect Solar Panel Costs in Billerica
For many Billerica homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Billerica, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Billerica.The brand of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Billerica homeowners opt to finance their solar panel systems to offset upfront costs.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Billerica is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that provide a range of services at different costs.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $17,104 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,260 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,643 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,254 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,092 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,158 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,451 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,971 | 11.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the 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 tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Reputation: Well-established companies 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 adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Billerica, MA Solar Cost FAQs
What is the average cost of installing solar panels in Billerica?
This is a difficult question to answer exactly, because the cost depends on many 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places 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.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Billerica is currently $627,576, so you can expect a value of about $25,731 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Billerica is a worthwhile investment.
How long do solar panels last in Billerica?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having 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.