Solar Panel Cost Guide in Groton, MA (2023 Update)
- Groton Solar Installation Cost: $9,179
- 25-Year Savings: $16,677
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Groton
See how much it might cost to install solar panels in Groton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Groton, the typical cost of solar panels is 2.94 per watt. The average solar panel system size in Groton is around 4.5 kilowatts, meaning a cost of about $9,179 for a solar installation, or $13,126 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Groton based on several factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Groton find installing solar panels has a decent ROI.
To receive a free quote from a highly rated solar installer in Groton, you can click the button below.
Solar savings over time in Groton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,144 |
| 3 years | $-6,076 |
| 5 years | $-4,008 |
| 7 years | $-1,939 |
| 9 years | $129 |
| 11 years | $2,198 |
| 13 years | $4,266 |
| 15 years | $6,334 |
| 17 years | $8,403 |
| 19 years | $10,471 |
| 21 years | $12,540 |
| 23 years | $14,608 |
| 25 years | $16,677 |
Top Solar Installers in Groton
Although it's possible to install solar panels on your own, it requires extra effort and expertise. Because of that, most homeowners choose a solar panel installer. Some solar companies, particularly local ones, can help you make the most of incentives in Groton, therefore optimizing your ROI.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Groton
Factors that Affect Solar Panel Costs in Groton
The cost of installing a solar system in Groton can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Groton average.
Solar Financing Terms
Most solar installers in Groton have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Groton, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. 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 more 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 names.
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 | $21,945 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,590 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,398 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,372 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,510 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,813 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,281 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,913 | 8.0 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you're not certain 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 company you should choose, since different companies provide different panels.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Groton, MA Solar Cost FAQs
How much does it cost to install solar panels in Groton?
The average cost of solar panels in Groton 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 use.
Should I lease or buy solar panels in Groton?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Does Groton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.