Solar Panel Cost Guide in Concord, MA (2023 Update)
- Concord Solar Installation Cost: $9,179
- 25-Year Savings: $16,870
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Concord
Here's how much it might cost to install solar panels in Concord.
The average cost of a solar panel system in Concord is 2.94 per watt. To account for the typical energy usage of the average home in Concord, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $9,179, or $13,126 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Concord depending on a few factors, such as the brand of solar panels you choose and the solar installer you hire. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Concord find installing solar panels can pay off big.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Concord
| Year | Return on Investment |
|---|---|
| 1 years | $-8,137 |
| 3 years | $-6,053 |
| 5 years | $-3,969 |
| 7 years | $-1,885 |
| 9 years | $199 |
| 11 years | $2,283 |
| 13 years | $4,366 |
| 15 years | $6,450 |
| 17 years | $8,534 |
| 19 years | $10,618 |
| 21 years | $12,702 |
| 23 years | $14,786 |
| 25 years | $16,870 |
Top Solar Installers in Concord
When making the switch to solar, many homeowners opt to hire a solar installer since DIY solar panel installation can be a challenging project. Local solar companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Concord
Factors that Affect Solar Panel Costs in Concord
While the average cost of a solar system in Concord is $9,179, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,940. 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 get 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, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Concord average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Concord, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea 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 how long it'll take to pay off the loan.
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 Concord is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $22,205 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,936 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,831 | 8.8 years |
| 12 kW | $2.88 | $24,202 | $45,891 | 8.6 years |
| 14 kW | $2.82 | $27,660 | $54,116 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $62,505 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $71,059 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $79,778 | 7.9 years |
How to Save on Solar Panels
There are a lot of companies available in Concord, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you care about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
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 Concord, MA Solar Cost FAQs
How much does it cost to install solar panels in Concord?
The average cost of solar panels in Concord 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Concord have a net metering program?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 typically 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.