Solar Panel Cost Guide in Essex, MA (Feb 2023)
- Essex Solar Installation Cost: $8,746
- 25-Year Savings: $16,208
- Payback Period: 8.8 Years
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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:
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.
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.
EcoWatch's Essex, MA Solar Cost FAQs
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.