Solar Panel Cost Guide in Danvers, MA (Sep 2022)

  • Danvers Solar Installation Cost: $8,746
  • 25-Year Savings: $15,183
  • Payback Period: 9.1 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Danvers

Here's how much it might cost to make the switch to solar in Danvers.

Although the national average of solar panels is $2.66 per watt, solar panels in Danvers typically cost about $3. To cover the typical energy usage of the average home in Danvers, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,746, or $6,472 after the federal solar tax credit of 30% is applied.

These figures are just averages, and how much solar costs for you will most likely look different based on your specific situation and what company you choose to go with. Even with the high initial cost, the average Danvers homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the positives of solar.

To receive a free estimate from a pre-vetted solar company in Danvers, you can click the button below.

Solar savings over time in Danvers

Year Return on Investment
1 years $-7,789
3 years $-5,875
5 years $-3,961
7 years $-2,046
9 years $-132
11 years $1,782
13 years $3,697
15 years $5,611
17 years $7,525
19 years $9,440
21 years $11,354
23 years $13,268
25 years $15,183

Top Solar Installers in Danvers

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for you.

There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Danvers

Factors that Affect Solar Panel Costs in Danvers

For many Danvers homeowners, the decision to install a solar energy system 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 several factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,940 per kilowatt in Danvers. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Danvers, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar companies in Danvers offer solar loans, which reduce your upfront costs of installing solar panels. Although solar loans make adopting solar energy more accessible for Danvers homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final factor to consider when trying to figure out the cost of solar for your home or business in Danvers is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Additionally, some companies in Danvers are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 $3.06 $12,842 $20,953 9.5 years
8 kW $3.00 $16,793 $28,266 9.3 years
10 kW $2.94 $20,580 $35,744 9.1 years
12 kW $2.88 $24,202 $43,387 9.0 years
14 kW $2.82 $27,660 $51,194 8.8 years
16 kW $2.76 $30,952 $59,166 8.6 years
18 kW $2.70 $34,080 $67,303 8.4 years
20 kW $2.65 $37,044 $75,604 8.2 years

Solar Incentives in Danvers

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Incentive Amount 100% deduction
More Info Click here

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Cape Light Compact- Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Mass Save - HEAT Loan Program
Website Visit here
More Info Click here

Name Solar Massachusetts Renewable Target (SMART) Program
Website Visit here
More Info Click here

Name Mass Solar Loan Program
Website Visit here
More Info Click here

Name Residential and Small-Scale Ground-Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Commonwealth Woodstove Change-Out Program
Website Visit here
More Info Click here

Name Local Option - Energy Revolving Loan Fund
More Info Click here

Name Solar Renewable Energy Certificates (SREC-II)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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 choosing a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
  • Reputation: Make sure your solar system installer 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 the EcoWatch team.
  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
  • Contract: 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 the terms of the warranty.

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Danvers, MA Solar Cost FAQs

What is the average cost of installing solar panels in Danvers?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Danvers?

Solar panels aren't free in Danvers, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Danvers?

The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.

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.

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