Solar Panel Cost Guide in Dracut, MA (Mar 2023)
- Dracut Solar Installation Cost: $9,179
- 25-Year Savings: $16,746
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Dracut
Find out what the average cost of a solar system is in Dracut.
The national average cost of solar panels is $2.66 per watt, but in Dracut it's 2.94 per watt. The average solar panel system size in Dracut is around 4.5 kilowatts, meaning a cost of about $9,179 for a solar installation, or $13,126 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Dracut homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find going solar is a solid investment. The average homeowner in Dracut can save about $22,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar installer in Dracut, you can click the button below.
Solar savings over time in Dracut
| Year | Return on Investment |
|---|---|
| 1 years | $-8,142 |
| 3 years | $-6,068 |
| 5 years | $-3,994 |
| 7 years | $-1,920 |
| 9 years | $154 |
| 11 years | $2,228 |
| 13 years | $4,302 |
| 15 years | $6,376 |
| 17 years | $8,450 |
| 19 years | $10,524 |
| 21 years | $12,598 |
| 23 years | $14,672 |
| 25 years | $16,746 |
Top Solar Installers in Dracut
Many homeowners choose to use a solar installer since figuring out how to install solar panels by yourself can be challenging. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for you.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Dracut
Factors that Affect Solar Panel Costs in Dracut
There are a number of criteria that can play into your solar system 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 key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Dracut, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Dracut to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence the cost. Dracut's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Dracut have more knowledge about local solar incentives and can help you learn about 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 | $22,038 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,714 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,554 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,558 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,727 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $62,061 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,560 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $79,223 | 8.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide 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 project timeline.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Dracut, MA Solar Cost FAQs
What is the average cost of installing solar panels in Dracut?
The average cost of solar panels in Dracut is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Dracut?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,162.67 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.