Solar Panel Cost Guide in Holbrook, MA (2023 Update)
- Holbrook Solar Installation Cost: $9,073
- 25-Year Savings: $16,222
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holbrook
See how much it might cost to switch to solar power in Holbrook.
The average cost of a solar panel system in Holbrook is 2.94 per watt. The average solar panel system size in Holbrook is around 4.4 kilowatts, meaning a cost of about $9,076 for a solar installation, or $12,979 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 vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. Despite the large initial cost, the average Holbrook homeowner can save about $22,000 on their energy bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Holbrook
| Year | Return on Investment |
|---|---|
| 1 years | $-7,350 |
| 3 years | $-3,903 |
| 5 years | $-456 |
| 7 years | $2,991 |
| 9 years | $6,438 |
| 11 years | $9,885 |
| 13 years | $13,332 |
| 15 years | $16,779 |
| 17 years | $20,225 |
| 19 years | $23,672 |
| 21 years | $27,119 |
| 23 years | $30,566 |
| 25 years | $34,013 |
Top Solar Installers in Holbrook
Although you can install solar panels by yourself, it takes extra labor and know-how. That's why almost all homeowners choose to go with a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. 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
See all of the solar companies in Holbrook
Factors that Affect Solar Panel Costs in Holbrook
There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,940. The brand of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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 falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, 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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating in Holbrook, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that has the products, warranties and services you want and also fits 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 | $21,583 | 9.3 years |
| 8 kW | $3.00 | $16,793 | $29,107 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $36,795 | 9.0 years |
| 12 kW | $2.88 | $24,202 | $44,648 | 8.8 years |
| 14 kW | $2.82 | $27,660 | $52,666 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $60,848 | 8.4 years |
| 18 kW | $2.70 | $34,080 | $69,195 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $77,706 | 8.1 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should go with, since different companies offer different panels.
- Reputation: Your solar installer should have a good 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 satisfied reviews from past customers.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 Holbrook, MA Solar Cost FAQs
How much does it cost to install solar panels in Holbrook?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Holbrook?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Holbrook?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt 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.