Solar Panel Cost Guide in Billerica, MA (Mar 2023)
- Billerica Solar Installation Cost: $9,179
- 25-Year Savings: $16,715
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Billerica
We break down average solar pricing in Billerica.
The national average cost of solar panels is $2.66 per watt, but in Billerica it's 2.94 per watt. Using this figure, a typical 4.5-kW system would cost about $9,179 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Billerica based on several factors, such as the type of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Billerica see about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in Billerica for a personalized quote.
Solar savings over time in Billerica
| Year | Return on Investment |
|---|---|
| 1 years | $-8,143 |
| 3 years | $-6,071 |
| 5 years | $-4,000 |
| 7 years | $-1,929 |
| 9 years | $143 |
| 11 years | $2,214 |
| 13 years | $4,286 |
| 15 years | $6,357 |
| 17 years | $8,429 |
| 19 years | $10,500 |
| 21 years | $12,572 |
| 23 years | $14,643 |
| 25 years | $16,715 |
Top Solar Installers in Billerica
Installing solar panels by yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your home.
If you're searching for a solar company in Billerica, we've organized 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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Billerica
Factors that Affect Solar Panel Costs in Billerica
The cost of installing a solar system in Billerica can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost 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 consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose 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
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Billerica, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can impact how much it costs. Billerica's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.06 | $12,842 | $21,996 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,657 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,483 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,474 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,629 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,949 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,434 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $79,083 | 8.0 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Billerica, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Billerica, MA Solar Cost FAQs
How much does it cost to install solar panels in Billerica?
The average cost of solar panels in Billerica is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Billerica?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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 savings from going solar.
Is it worth going solar in Billerica?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 decreases 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.