Solar Panel Cost Guide in Gloucester, MA (2023 Update)
- Gloucester Solar Installation Cost: $8,743
- 25-Year Savings: $16,211
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Gloucester
Find out what the average cost of installing solar panels is in Gloucester.
Although the national average of solar panels is $2.66 per watt, solar panels in Gloucester typically cost about 2.94. The average solar panel system size in Gloucester is around 4.2 kilowatts, meaning a cost of about $8,746 for a solar installation, or $12,507 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy consumption and what installation company you go with. With typical savings of about $22,000 on power bills over 20 years, many homeowners in Gloucester find installing solar panels can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Gloucester
| Year | Return on Investment |
|---|---|
| 1 years | $-8,660 |
| 3 years | $-8,494 |
| 5 years | $-8,327 |
| 7 years | $-8,161 |
| 9 years | $-7,995 |
| 11 years | $-7,828 |
| 13 years | $-7,662 |
| 15 years | $-7,496 |
| 17 years | $-7,329 |
| 19 years | $-7,163 |
| 21 years | $-6,997 |
| 23 years | $-6,830 |
| 25 years | $-6,664 |
Top Solar Installers in Gloucester
Many homeowners decide to hire a solar installer since trying to install solar panels yourself can be hard. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are a number of 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
See all of the solar companies in Gloucester
Factors that Affect Solar Panel Costs in Gloucester
There are several factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels 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 spend about $2,940 per kilowatt in Gloucester. The brand and kind of equipment you choose for your solar system can raise or lower 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Gloucester to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more 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 sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. 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 decide on the company that offers the products, warranties and services you're looking for 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 | $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 solar installer you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Gloucester, MA Solar Cost FAQs
What is the average cost of installing solar panels in Gloucester?
The average cost of solar panels in Gloucester 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Gloucester?
Leasing solar panels can be an appealing 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Gloucester, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Gloucester?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.