Solar Panel Cost Guide in Halifax, MA (Mar 2023)
- Halifax Solar Installation Cost: $8,520
- 25-Year Savings: $16,540
- Payback Period: 8.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Halifax
Find out what the average cost of solar panel installation is in Halifax.
Although the national average of solar panels is $2.66 per watt, solar panels in Halifax generally cost about 2.94. To account for the typical energy usage of the average home in Halifax, most homeowners require a 4.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,520, or $12,184 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Halifax find investing in solar has a decent ROI.
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 Halifax
| Year | Return on Investment |
|---|---|
| 1 years | $-7,518 |
| 3 years | $-5,513 |
| 5 years | $-3,508 |
| 7 years | $-1,503 |
| 9 years | $501 |
| 11 years | $2,506 |
| 13 years | $4,511 |
| 15 years | $6,516 |
| 17 years | $8,521 |
| 19 years | $10,525 |
| 21 years | $12,530 |
| 23 years | $14,535 |
| 25 years | $16,540 |
Top Solar Installers in Halifax
Many homeowners opt for a solar panel installer since installing solar panels on your own can be challenging. In addition, if you'd like to maximize your investment in solar energy, using a solar company can help with that as well. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Halifax
Factors that Affect Solar Panel Costs in Halifax
The cost of installing a solar system in Halifax 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 the equipment you choose, financing options and the solar installer you choose.
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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,940 per kilowatt in Halifax. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Halifax average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Halifax homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can impact your pricing. Halifax's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 choose a company that offers the products, warranties and services you want and also is within 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 | $23,494 | 8.8 years |
| 8 kW | $3.00 | $16,793 | $31,654 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,979 | 8.5 years |
| 12 kW | $2.88 | $24,202 | $48,469 | 8.3 years |
| 14 kW | $2.82 | $27,660 | $57,123 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,942 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,926 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $84,074 | 7.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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. Generally speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Halifax?
Leasing solar panels can be an appealing choice, as it commonly 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 option if you want to maximize your savings.
Is it worth going solar in Halifax?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.