Solar Panel Cost Guide in Ludlow, MA (2023 Update)
- Ludlow Solar Installation Cost: $9,208
- 25-Year Savings: $14,850
- Payback Period: 9.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ludlow
Find out how much it might cost to go solar in Ludlow.
The national average cost of solar panels is $2.66 per watt, but in Ludlow it's 2.94 per watt. Using this figure, a typical 4.5-kW system would cost about $9,199 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Ludlow homeowners. 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. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Ludlow can save around $20,000 on their power bills over 20 years.
To receive a free estimate from a vetted solar company in Ludlow, you can click the button below.
Solar savings over time in Ludlow
| Year | Return on Investment |
|---|---|
| 1 years | $-9,128 |
| 3 years | $-8,967 |
| 5 years | $-8,807 |
| 7 years | $-8,646 |
| 9 years | $-8,486 |
| 11 years | $-8,326 |
| 13 years | $-8,165 |
| 15 years | $-8,005 |
| 17 years | $-7,845 |
| 19 years | $-7,684 |
| 21 years | $-7,524 |
| 23 years | $-7,363 |
| 25 years | $-7,203 |
Top Solar Installers in Ludlow
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various 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
See all of the solar companies in Ludlow
Factors that Affect Solar Panel Costs in Ludlow
The cost of installing a solar system in Ludlow can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Ludlow offer solar loans, which reduce your upfront costs of installing solar. Though solar loans make adopting solar energy more accessible for Ludlow homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Ludlow, and each can charge varying amounts for labor and 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 cost more. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for 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 | $19,420 | 10.0 years |
| 8 kW | $3.00 | $16,793 | $26,222 | 9.8 years |
| 10 kW | $2.94 | $20,580 | $33,189 | 9.6 years |
| 12 kW | $2.88 | $24,202 | $40,321 | 9.4 years |
| 14 kW | $2.82 | $27,660 | $47,618 | 9.2 years |
| 16 kW | $2.76 | $30,952 | $55,079 | 9.0 years |
| 18 kW | $2.70 | $34,080 | $62,705 | 8.8 years |
| 20 kW | $2.65 | $37,044 | $70,495 | 8.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Ludlow, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
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 Ludlow, MA Solar Cost FAQs
What is the average cost of installing solar panels in Ludlow?
The average cost of solar panels in Ludlow 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Ludlow?
Leasing solar panels can be an attractive choice, as it usually 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 get the most savings.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,075.39 per year.
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 needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.