Solar Panel Cost Guide in Fall River, MA (2023 Update)
- Fall River Solar Installation Cost: $8,911
- 25-Year Savings: $17,073
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fall River
See how much it might cost to go solar in Fall River.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fall River, the average cost of solar panels is 2.94 per watt. Using this figure, a typical 4.3-kW system would cost about $8,911 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Fall River homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the high initial cost, the average Fall River homeowner can save around $23,000 on their power bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Fall River
| Year | Return on Investment |
|---|---|
| 1 years | $-7,872 |
| 3 years | $-5,793 |
| 5 years | $-3,714 |
| 7 years | $-1,636 |
| 9 years | $443 |
| 11 years | $2,522 |
| 13 years | $4,601 |
| 15 years | $6,679 |
| 17 years | $8,758 |
| 19 years | $10,837 |
| 21 years | $12,915 |
| 23 years | $14,994 |
| 25 years | $17,073 |
Top Solar Installers in Fall River
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with an installer can make your swap to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy usage, but working with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Fall River
Factors that Affect Solar Panel Costs in Fall River
For many Fall River homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Fall River, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. While solar loans make going solar more accessible for Fall River homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can impact the cost. Fall River's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $23,175 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,229 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,448 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,831 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,379 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,092 | 8.1 years |
| 18 kW | $2.70 | $34,080 | $73,969 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,011 | 7.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years 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 adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Fall River, MA Solar Cost FAQs
How much does it cost to install solar panels in Fall River?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Fall River?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.
Is switching to solar power worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.