Solar Panel Cost Guide in Fairhaven, MA (2023 Update)
- Fairhaven Solar Installation Cost: $8,911
- 25-Year Savings: $17,192
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fairhaven
We go over average solar pricing in Fairhaven.
While the national average of solar panels is $2.66 per watt, solar panels in Fairhaven typically cost about 2.94. The average Fairhaven homeowner needs a 4.3-kilowatt system, which would cost about $8,911 with the federal tax credit, or $12,743 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on factors unique to your home and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $23,000 in savings on utility bills over 20 years.
To get a free quote from a highly rated solar company in Fairhaven, you can click the button below.
Solar savings over time in Fairhaven
| Year | Return on Investment |
|---|---|
| 1 years | $-7,867 |
| 3 years | $-5,779 |
| 5 years | $-3,690 |
| 7 years | $-1,602 |
| 9 years | $486 |
| 11 years | $2,574 |
| 13 years | $4,663 |
| 15 years | $6,751 |
| 17 years | $8,839 |
| 19 years | $10,927 |
| 21 years | $13,016 |
| 23 years | $15,104 |
| 25 years | $17,192 |
Top Solar Installers in Fairhaven
Many homeowners opt for a solar panel company since installing solar panels on your own can be time-consuming. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're searching for a solar company in Fairhaven, we've put together a list of our top suggestions here:
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 Fairhaven
Factors that Affect Solar Panel Costs in Fairhaven
Although the average cost of a solar system in Fairhaven is $8,911, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 pay about $2,940 per kilowatt in Fairhaven. There are several different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over five to seven years on average. 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you select will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $23,340 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,449 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,723 | 8.5 years |
| 12 kW | $2.88 | $24,202 | $48,162 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,765 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,533 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,465 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $83,562 | 7.7 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:
- 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 quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you're worried about the endurance of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
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 Fairhaven, MA Solar Cost FAQs
What is the average cost of installing solar panels in Fairhaven?
The average cost of solar panels in Fairhaven is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Fairhaven?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fairhaven is currently $281,000, which means you can look forward to a value of about $11,521 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fairhaven is a rewarding investment.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.