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 February 03, 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.

The national average cost of solar panels is $2.66 per watt, but in Danvers it’s 4 per watt.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.

How much you pay can be above or below the average in Danvers depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.

You can click the button below to get connected with a pre-vetted solar company in Danvers for a quote for your home.

Solar savings over time in Danvers

Year Return 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

Although you can install solar panels by yourself, it takes extra effort and knowledge. That's why the majority of homeowners choose to hire a solar panel installer. Also, if you’d like to maximize your investment in solar power, using a solar installer can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.

If you're on the hunt for a solar company in Danvers, we've compiled a list of our top suggestions here:

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

There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for solar panels in cash is difficult, solar loans are an affordable choice because they lower your upfront costs and allow you to 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 financing options, including the amount of 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar company you hire to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Danvers, and each can charge different amounts for labor and 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 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 $4.22 $17,734 $16,060 13.1 years
8 kW $4.14 $23,191 $21,869 12.9 years
10 kW $4.06 $28,420 $27,904 12.6 years
12 kW $3.98 $33,422 $34,167 12.4 years
14 kW $3.90 $38,196 $40,657 12.1 years
16 kW $3.82 $42,744 $47,375 11.9 years
18 kW $3.74 $47,064 $54,320 11.6 years
20 kW $3.65 $51,156 $61,492 11.4 years

How to Save on Solar Panels

There are numerous companies available in Danvers, 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:

  • Solar Panel Brands: The model of solar panel you need plays a role in which company you should go with, since different companies offer different panels.
  • Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
  • Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.

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 hard question to answer exactly, because the cost depends on many 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important consideration when buying solar panels?

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

How much can I save on electricity bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,126.48 per year.

How long do solar panels last in Danvers?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.

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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