Solar Panel Cost Guide in Danvers, MA (2024 Update)

  • Danvers Solar Installation Cost: $12,074
  • 25-Year Savings: $15,186
  • Payback Period: 12.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Danvers

We go over average solar pricing in Danvers.

While the national average of solar panels is $2.66 per watt, solar panels in Danvers typically cost about 4.The average solar panel system size in Danvers is around 4.2 kilowatts, meaning a cost of about $12,074 for a solar installation, or $17,266 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary based on a few factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $21,000 over 20 years on utility bills.

To receive a free estimate from a highly rated solar installation company in Danvers, you can click the button below.

Solar savings over time in Danvers

YearReturn on Investment
1 years$-10,680
3 years$-7,891
5 years$-5,103
7 years$-2,314
9 years$475
11 years$3,263
13 years$6,052
15 years$8,840
17 years$11,629
19 years$14,418
21 years$17,206
23 years$19,995
25 years$22,783

Top Solar Installers in Danvers

When making the switch to solar, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a difficult project. Local solar companies can also help you maximize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Danvers:

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5
  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Danvers

Factors that Affect Solar Panel Costs in Danvers

For many Danvers homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Danvers, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. 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 choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Danvers average.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

Lastly, the company you choose to install your solar panel system can affect your pricing. Danvers’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.22$17,734$16,06013.1 years
8 kW$4.14$23,191$21,86912.9 years
10 kW$4.06$28,420$27,90412.6 years
12 kW$3.98$33,422$34,16712.4 years
14 kW$3.90$38,196$40,65712.1 years
16 kW$3.82$42,744$47,37511.9 years
18 kW$3.74$47,064$54,32011.6 years
20 kW$3.65$51,156$61,49211.4 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, 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:

  • 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 type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5
  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Danvers, MA Solar Cost FAQs

How much does it cost to install solar panels in Danvers?

This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

What other factors should I consider apart from cost when buying solar panels?

Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Can solar panels completely eradicate my power bills?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Danvers, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

On average, solar panels can last 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 larger 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.