Solar Panel Cost Guide in Granby, MA (2023 Update)
- Granby Solar Installation Cost: $12,815
- 25-Year Savings: $14,053
- Payback Period: 13.7 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Granby
Here's how much it might cost to go solar in Granby.
The average cost of solar panels in Granby is 2.94 per watt.Using this figure, a typical 4.5-kW system would cost about $9,282 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Granby see about $20,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Granby
| Year | Return on Investment |
|---|---|
| 1 years | $-11,092 |
| 3 years | $-7,645 |
| 5 years | $-4,198 |
| 7 years | $-751 |
| 9 years | $2,695 |
| 11 years | $6,142 |
| 13 years | $9,589 |
| 15 years | $13,036 |
| 17 years | $16,483 |
| 19 years | $19,930 |
| 21 years | $23,377 |
| 23 years | $26,824 |
| 25 years | $30,270 |
Top Solar Installers in Granby
Many homeowners choose to use a solar panel company since trying to install solar panels by yourself can be time-consuming. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you're searching for a solar installer in Granby, the EcoWatch team has put together a list of our top suggestions here:
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 Granby
Factors that Affect Solar Panel Costs in Granby
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Granby: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940.The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a role in determining the cost. Granby's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to 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 promotion can bring their pricing lower 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 | $4.22 | $17,734 | $13,312 | 14.3 years |
| 8 kW | $4.14 | $23,191 | $18,204 | 14.0 years |
| 10 kW | $4.06 | $28,420 | $23,324 | 13.7 years |
| 12 kW | $3.98 | $33,422 | $28,671 | 13.5 years |
| 14 kW | $3.90 | $38,196 | $34,245 | 13.2 years |
| 16 kW | $3.82 | $42,744 | $40,046 | 12.9 years |
| 18 kW | $3.74 | $47,064 | $46,075 | 12.6 years |
| 20 kW | $3.65 | $51,156 | $52,332 | 12.4 years |
How to Save on Solar Panels
The solar installer you choose will impact 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 several important things you should consider, including:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Contract: Before signing a contract with a solar installer, be 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.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which installer you should opt for, since different companies have different panels.
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 Granby, MA Solar Cost FAQs
What is the average cost of installing solar panels in Granby?
The average cost of solar panels in Granby 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Granby?
You can't get solar panels for free in Granby. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Granby, 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 often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.