Solar Panel Cost Guide in Billerica, MA (2024 Update)
- Billerica Solar Installation Cost: $12,674
- 25-Year Savings: $16,716
- Payback Period: 12.2 Years
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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 generally cost around 4.To cover the typical energy needs of the average home in Billerica, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $12,674, or $18,124 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you will look different based on the amount of energy your home requires and what company you go with.Even with the high upfront cost, the average Billerica homeowner can save about $22,000 on their power bills over 20 years, which is one of the benefits of solar.
To receive a free quote from a vetted solar company in Billerica, you can click the button below.
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 choose to use a solar installation company since handling can be a time-consuming project. Some solar companies, especially local ones, can help you make the most of incentives in Billerica, optimizing your ROI.
If you're searching for a solar installer in Billerica, the EcoWatch team has put together a list of our top suggestions here:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Billerica
Factors that Affect Solar Panel Costs in Billerica
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Billerica: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Billerica, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Billerica provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Billerica is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that offer a range of services at different costs.Additionally, some companies in Billerica know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $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
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Reputation: Solar companies 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.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Billerica, MA Solar Cost FAQs
How much does it cost to install solar panels in Billerica?
This is a tough 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will solar panels impact the value of my home?
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 a solar system."
How long do solar panels last in Billerica?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.