Solar Panel Cost Guide in Malden, MA (Sep 2022)

  • Malden Solar Installation Cost: $9,179
  • 25-Year Savings: $16,746
  • Payback Period: 8.9 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Malden

Find out how much it might cost to switch to solar power in Malden.

While the national average of solar panels is $2.66 per watt, solar panels in Malden generally cost around $3. The average Malden homeowner needs a 4.5-kilowatt system, which would cost about $9,179, or $6,792 after the federal solar tax credit of 30% is applied.

These figures are only averages, and how much solar costs for you may look different based on your specific situation and what company you want to go with. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Malden find installing solar panels can be quite rewarding.

To receive a free estimate from a highly rated solar company in Malden, you can click the button below.

Solar savings over time in Malden

Year Return on Investment
1 years $-8,142
3 years $-6,068
5 years $-3,994
7 years $-1,920
9 years $154
11 years $2,228
13 years $4,302
15 years $6,376
17 years $8,450
19 years $10,524
21 years $12,598
23 years $14,672
25 years $16,746

Top Solar Installers in Malden

DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Plus, if you're unsure what kind of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.

If you'd like to go solar but still aren't certain which solar system installer to go with, here are our suggestions for providers in Malden:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Malden

Factors that Affect Solar Panel Costs in Malden

For many Malden homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Malden, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the system you need is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Malden to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices 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 the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

Finally, the company you get to install your solar panels can influence your pricing. Malden's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price 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 find a company that has the products, warranties and services you're looking for 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 $22,038 9.2 years
8 kW $3.00 $16,793 $29,714 9.0 years
10 kW $2.94 $20,580 $37,554 8.9 years
12 kW $2.88 $24,202 $45,558 8.7 years
14 kW $2.82 $27,660 $53,727 8.5 years
16 kW $2.76 $30,952 $62,061 8.3 years
18 kW $2.70 $34,080 $70,560 8.1 years
20 kW $2.65 $37,044 $79,223 8.0 years

Solar Incentives in Malden

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Incentive Amount 100% deduction
More Info Click here

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Cape Light Compact- Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Mass Save - HEAT Loan Program
Website Visit here
More Info Click here

Name Solar Massachusetts Renewable Target (SMART) Program
Website Visit here
More Info Click here

Name Mass Solar Loan Program
Website Visit here
More Info Click here

Name Residential and Small-Scale Ground-Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Commonwealth Woodstove Change-Out Program
Website Visit here
More Info Click here

Name Local Option - Energy Revolving Loan Fund
More Info Click here

Name Solar Renewable Energy Certificates (SREC-II)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:

  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Solar Panel Brands: The model of solar panel you want plays a role in which company you should choose, since different companies have access to different panels.
  • Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Malden, MA Solar Cost FAQs

How much does it cost to install solar panels in Malden?

The average cost of solar panels in Malden is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Malden?

Leasing solar panels can be an attractive choice, as it typically 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

Is going solar worth it?

Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home uses 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 house 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us