Solar Panel Cost Guide in Leicester, MA (2025 Update)
- Leicester Solar Installation Cost: $12,726
- 25-Year Savings: $16,709
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Leicester
We go over average solar pricing in Leicester.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Leicester, the average cost of solar panels is 4 per watt.Using this figure, a typical 4.5-kW system would cost about $12,726 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Leicester homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
Solar savings over time in Leicester
| Year | Return on Investment |
|---|---|
| 1 years | $-11,002 |
| 3 years | $-7,556 |
| 5 years | $-4,109 |
| 7 years | $-662 |
| 9 years | $2,785 |
| 11 years | $6,232 |
| 13 years | $9,679 |
| 15 years | $13,126 |
| 17 years | $16,572 |
| 19 years | $20,019 |
| 21 years | $23,466 |
| 23 years | $26,913 |
| 25 years | $30,360 |
Top Solar Installers in Leicester
Trying to put up solar panels on your own can be a dangerous task, which is why using a solar installation company is a good option for many homeowners. Another upside of using a solar installer is that they can help you optimize your investment by lowering your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
See all of the solar companies in Leicester
Factors that Affect Solar Panel Costs in Leicester
The cost of installing a solar system in Leicester can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of solar panels in Leicester, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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 into a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Leicester, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s vital to include that in your estimate 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 remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Leicester, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $17,003 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,125 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,475 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $36,052 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,856 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,888 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,147 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,634 | 11.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: If you’re concerned about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a good reputation as a company and have proven 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.
EcoWatch's Leicester, MA Solar Cost FAQs
What is the average cost of installing solar panels in Leicester?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Leicester?
Leasing solar panels can be an appealing choice, as it commonly 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Does Leicester have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.