Solar Panel Cost Guide in Georgetown, MA (2023 Update)
- Georgetown Solar Installation Cost: $8,743
- 25-Year Savings: $17,181
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Georgetown
We go over average solar pricing in Georgetown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the typical cost of solar panels is 2.94 per watt. The average Georgetown homeowner needs a 4.2-kilowatt system, which would cost about $8,746 with the federal tax credit, or $12,507 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $23,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Georgetown for a quote for your home.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-8,657 |
| 3 years | $-8,484 |
| 5 years | $-8,311 |
| 7 years | $-8,138 |
| 9 years | $-7,966 |
| 11 years | $-7,793 |
| 13 years | $-7,620 |
| 15 years | $-7,447 |
| 17 years | $-7,274 |
| 19 years | $-7,102 |
| 21 years | $-6,929 |
| 23 years | $-6,756 |
| 25 years | $-6,583 |
Top Solar Installers in Georgetown
Many homeowners opt for a solar panel installer since trying to install solar panels yourself can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,940. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Georgetown to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better 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 | $23,770 | 8.8 years |
| 8 kW | $3.00 | $16,793 | $32,023 | 8.6 years |
| 10 kW | $2.94 | $20,580 | $40,440 | 8.4 years |
| 12 kW | $2.88 | $24,202 | $49,022 | 8.3 years |
| 14 kW | $2.82 | $27,660 | $57,769 | 8.1 years |
| 16 kW | $2.76 | $30,952 | $66,680 | 7.9 years |
| 18 kW | $2.70 | $34,080 | $75,756 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $84,997 | 7.6 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
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 Georgetown, MA Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
The average cost of solar panels in Georgetown 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 stuff like the kind 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 Georgetown?
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 can't take advantage of 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 savings from going solar.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,220.41 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 cover 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.