Solar Panel Cost Guide in Chatham, MA (2023 Update)
- Chatham Solar Installation Cost: $8,479
- 25-Year Savings: $17,624
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Chatham
Let's take a look at the average cost of solar in Chatham.
In Chatham, solar panels cost about 2.94 per watt on average. To account for the typical energy usage of the average home in Chatham, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs around $8,479, or $12,125 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Chatham depending on a few factors, such as the type of solar panels you choose and the solar contractor you hire. With average savings of about $24,000 on power bills over 20 years, many homeowners in Chatham find going solar can pay off big.
To get a free estimate from a top solar company in Chatham, you can click the button below.
Solar savings over time in Chatham
| Year | Return on Investment |
|---|---|
| 1 years | $-7,435 |
| 3 years | $-5,347 |
| 5 years | $-3,258 |
| 7 years | $-1,170 |
| 9 years | $918 |
| 11 years | $3,006 |
| 13 years | $5,095 |
| 15 years | $7,183 |
| 17 years | $9,271 |
| 19 years | $11,360 |
| 21 years | $13,448 |
| 23 years | $15,536 |
| 25 years | $17,624 |
Top Solar Installers in Chatham
When switching to solar energy, many homeowners choose to hire a solar installer since DIY solar panel installation can be a time-consuming project. Also, if you'd like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're looking for a solar installer in Chatham, 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
See all of the solar companies in Chatham
Factors that Affect Solar Panel Costs in Chatham
For many Chatham homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Chatham, with typical prices between $20,000 to $40,000. There are several 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 power your household uses, the larger your system will likely need to be. You can expect to spend about $2,940 per kilowatt in Chatham. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Chatham average.
Solar Financing Terms
Most solar companies in Chatham offer solar loans, which reduce the initial cost of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Chatham, and each can charge varying amounts for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fits within your budget.
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 | $25,148 | 8.5 years |
| 8 kW | $3.00 | $16,793 | $33,860 | 8.3 years |
| 10 kW | $2.94 | $20,580 | $42,737 | 8.1 years |
| 12 kW | $2.88 | $24,202 | $51,778 | 8.0 years |
| 14 kW | $2.82 | $27,660 | $60,984 | 7.8 years |
| 16 kW | $2.76 | $30,952 | $70,355 | 7.6 years |
| 18 kW | $2.70 | $34,080 | $79,890 | 7.5 years |
| 20 kW | $2.65 | $37,044 | $89,590 | 7.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in Chatham, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms carefully to make sure you understand the overall cost, completion timeline incentives and warranties.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Chatham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Chatham?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Chatham?
Leasing solar panels can be an option if you can't 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.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Chatham, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.