Solar Panel Cost Guide in Gloucester, MA (2024 Update)
- Gloucester Solar Installation Cost: $12,074
- 25-Year Savings: $16,211
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Gloucester
We break down average solar pricing in Gloucester.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Gloucester, the average cost of solar panels is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $12,074 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.Despite the large initial cost, the average Gloucester homeowner can save around $22,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Gloucester for a quote for your home.
Solar savings over time in Gloucester
| Year | Return on Investment |
|---|---|
| 1 years | $-10,351 |
| 3 years | $-6,904 |
| 5 years | $-3,457 |
| 7 years | $-10 |
| 9 years | $3,437 |
| 11 years | $6,884 |
| 13 years | $10,331 |
| 15 years | $13,777 |
| 17 years | $17,224 |
| 19 years | $20,671 |
| 21 years | $24,118 |
| 23 years | $27,565 |
| 25 years | $31,012 |
Top Solar Installers in Gloucester
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels by yourself can be a lot of work. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Gloucester
Factors that Affect Solar Panel Costs in Gloucester
For many Gloucester homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Gloucester, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Gloucester, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Gloucester offer solar loans, which reduce the initial cost of installing solar panels.While solar loans make switching to solar energy more accessible for Gloucester homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Gloucester, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $17,508 | 12.6 years |
| 8 kW | $4.14 | $23,191 | $23,798 | 12.3 years |
| 10 kW | $4.06 | $28,420 | $30,316 | 12.1 years |
| 12 kW | $3.98 | $33,422 | $37,062 | 11.9 years |
| 14 kW | $3.90 | $38,196 | $44,034 | 11.6 years |
| 16 kW | $3.82 | $42,744 | $51,235 | 11.4 years |
| 18 kW | $3.74 | $47,064 | $58,662 | 11.1 years |
| 20 kW | $3.65 | $51,156 | $66,317 | 10.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Gloucester, MA Solar Cost FAQs
What is the average cost of installing solar panels in Gloucester?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Gloucester?
A solar panel system isn’t free in Gloucester, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Gloucester?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to 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.