Solar Panel Cost Guide in Essex, MA (2023 Update)
- Essex Solar Installation Cost: $8,746
- 25-Year Savings: $16,208
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Essex
See how much it might cost to make the switch to solar in Essex.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Essex, the typical cost of solar panels is 2.94 per watt. Using this figure, a typical 4.2-kW system would cost about $8,746 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely look different based on factors unique to your home and what company you want to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Essex see about $22,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Essex for a quote for your home.
Solar savings over time in Essex
| Year | Return on Investment |
|---|---|
| 1 years | $-7,748 |
| 3 years | $-5,752 |
| 5 years | $-3,756 |
| 7 years | $-1,759 |
| 9 years | $237 |
| 11 years | $2,233 |
| 13 years | $4,230 |
| 15 years | $6,226 |
| 17 years | $8,222 |
| 19 years | $10,219 |
| 21 years | $12,215 |
| 23 years | $14,211 |
| 25 years | $16,208 |
Top Solar Installers in Essex
Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be time-consuming. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Essex
Factors that Affect Solar Panel Costs in Essex
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Essex: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Essex, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Essex, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Essex is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, you'll have many options for solar installers that offer a range of services for different budgets. 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 specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $22,400 | 9.1 years |
| 8 kW | $3.00 | $16,793 | $30,196 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,156 | 8.8 years |
| 12 kW | $2.88 | $24,202 | $46,282 | 8.6 years |
| 14 kW | $2.82 | $27,660 | $54,571 | 8.4 years |
| 16 kW | $2.76 | $30,952 | $63,026 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $71,645 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $80,429 | 7.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: The type of solar panel you want plays a role in which installer you should go with, since different companies offer different panels.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Essex, MA Solar Cost FAQs
How much does it cost to install solar panels in Essex?
This is a difficult question to answer precisely, because the cost depends on many 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 more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does Essex have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
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 goes down 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.