Solar Panel Cost Guide in Georgetown, MA (Mar 2023)
- Georgetown Solar Installation Cost: $8,746
- 25-Year Savings: $17,178
- Payback Period: 8.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Georgetown
Let's take a look at the average cost of solar panels in Georgetown.
Although the national average of solar panels is $2.66 per watt, solar panels in Georgetown typically cost about 2.94. 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.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you choose, your solar contractor and more. For most homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $23,000 in savings on utility bills over 20 years.
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Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-7,710 |
| 3 years | $-5,636 |
| 5 years | $-3,562 |
| 7 years | $-1,488 |
| 9 years | $586 |
| 11 years | $2,660 |
| 13 years | $4,734 |
| 15 years | $6,808 |
| 17 years | $8,882 |
| 19 years | $10,956 |
| 21 years | $13,030 |
| 23 years | $15,104 |
| 25 years | $17,178 |
Top Solar Installers in Georgetown
Many homeowners choose to hire a solar panel company since installing solar panels on your own can be hard. The expertise that solar companies provide can be helpful as well, especially if you don't quite know what kind of solar equipment would be right for your home.
There are several licensed solar professionals that can take care of your solar installation project. 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Although the average cost of a solar system in Georgetown is $8,746, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,940. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Georgetown to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Georgetown, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you want and also fit into your budget.
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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Georgetown?
Solar panels can be a beneficial investment for a majority 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 energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Georgetown?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.