Solar Panel Cost Guide in Halifax, MA (2024 Update)
- Halifax Solar Installation Cost: $11,760
- 25-Year Savings: $16,544
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Halifax
Let’s take a look at the average cost of solar panels in Halifax.
In Halifax, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Halifax, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs around $11,760, or $16,817 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite good, with a net average savings of about $23,000 over 20 years on power bills.
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Solar savings over time in Halifax
| Year | Return on Investment |
|---|---|
| 1 years | $-10,037 |
| 3 years | $-6,590 |
| 5 years | $-3,143 |
| 7 years | $304 |
| 9 years | $3,751 |
| 11 years | $7,198 |
| 13 years | $10,644 |
| 15 years | $14,091 |
| 17 years | $17,538 |
| 19 years | $20,985 |
| 21 years | $24,432 |
| 23 years | $27,879 |
| 25 years | $31,326 |
Top Solar Installers in Halifax
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar company can make swapping over to solar power much easier. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by offering warranties and repairs.
If you’d like to switch to solar energy but still aren’t sure which solar panel company to go with, here are our recommendations for providers in Halifax:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Halifax
Factors that Affect Solar Panel Costs in Halifax
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that determine your overall cost in Halifax: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Halifax.The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Halifax homeowners choose to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence how much you pay. Halifax’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $18,601 | 12.2 years |
| 8 kW | $4.14 | $23,191 | $25,257 | 12.0 years |
| 10 kW | $4.06 | $28,420 | $32,139 | 11.7 years |
| 12 kW | $3.98 | $33,422 | $39,249 | 11.5 years |
| 14 kW | $3.90 | $38,196 | $46,586 | 11.3 years |
| 16 kW | $3.82 | $42,744 | $54,151 | 11.0 years |
| 18 kW | $3.74 | $47,064 | $61,943 | 10.8 years |
| 20 kW | $3.65 | $51,156 | $69,962 | 10.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Installation Process: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Halifax, MA Solar Cost FAQs
What is the average cost of installing solar panels in Halifax?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Halifax?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Halifax?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Halifax?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.