Solar Panel Cost Guide in Dedham, MA (2023 Update)
- Dedham Solar Installation Cost: $9,076
- 25-Year Savings: $17,027
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Dedham
We break down average solar pricing in Dedham.
The average cost of solar panels in Dedham is 2.94 per watt. The average Dedham homeowner needs a 4.4-kilowatt system, which would cost about $9,076 with the federal tax credit, or $12,979 before the 30% 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 installing solar panels can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar panel company in Dedham for a customized quote.
Solar savings over time in Dedham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,032 |
| 3 years | $-5,943 |
| 5 years | $-3,855 |
| 7 years | $-1,767 |
| 9 years | $321 |
| 11 years | $2,410 |
| 13 years | $4,498 |
| 15 years | $6,586 |
| 17 years | $8,674 |
| 19 years | $10,763 |
| 21 years | $12,851 |
| 23 years | $14,939 |
| 25 years | $17,027 |
Top Solar Installers in Dedham
Trying to install solar panels on your own can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers provide can be valuable as well, particularly if you don't quite know what type of solar equipment would be right for your home.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our suggestions for providers in Dedham:
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 Dedham
Factors that Affect Solar Panel Costs in Dedham
Although the average cost of a solar system in Dedham is $9,076, 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 crucial things to keep in mind.
Solar Equipment
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 electricity your household uses, the larger your system will likely need to be. You can expect to spend around $2,940 per kilowatt in Dedham. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Dedham homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, 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 installer you choose will impact your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $22,683 | 9.0 years |
| 8 kW | $3.00 | $16,793 | $30,574 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,629 | 8.7 years |
| 12 kW | $2.88 | $24,202 | $46,848 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $55,233 | 8.3 years |
| 16 kW | $2.76 | $30,952 | $63,782 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $72,495 | 8.0 years |
| 20 kW | $2.65 | $37,044 | $81,374 | 7.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Dedham, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The model of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Dedham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Dedham?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration 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.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 amount 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.