Solar Panel Cost Guide in Holden, MA (2023 Update)
- Holden Solar Installation Cost: $9,215
- 25-Year Savings: $16,709
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holden
Let's have a look at the average cost of solar in Holden.
While the national average of solar panels is $2.66 per watt, solar panels in Holden generally cost about 2.94. The average Holden homeowner needs a 4.5-kilowatt system, which would cost about $9,220 with the federal tax credit, or $13,185 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Holden homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Even with the significant initial cost, the average Holden homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a vetted solar installer in Holden, you can click the button below.
Solar savings over time in Holden
| Year | Return on Investment |
|---|---|
| 1 years | $-9,129 |
| 3 years | $-8,956 |
| 5 years | $-8,783 |
| 7 years | $-8,610 |
| 9 years | $-8,438 |
| 11 years | $-8,265 |
| 13 years | $-8,092 |
| 15 years | $-7,919 |
| 17 years | $-7,746 |
| 19 years | $-7,574 |
| 21 years | $-7,401 |
| 23 years | $-7,228 |
| 25 years | $-7,055 |
Top Solar Installers in Holden
Trying to install solar panels yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our suggestions for providers nearby:
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 Holden
Factors that Affect Solar Panel Costs in Holden
Although the average cost of a solar system in Holden is $9,220, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 $2,940 per kilowatt in Holden. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Holden, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Holden to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Holden, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to 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 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 | $3.06 | $12,842 | $21,895 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,523 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,315 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,272 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,393 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,680 | 8.4 years |
| 18 kW | $2.70 | $34,080 | $70,130 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,746 | 8.0 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Holden, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should go with, since different companies offer different panels.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Holden, MA Solar Cost FAQs
What is the average cost of installing solar panels in Holden?
The average cost of solar panels in Holden 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Holden?
Solar panels aren't free in Holden, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Holden is currently $318,956, so you can expect a value of about $13,077 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Holden is a rewarding investment.
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 typically 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.