Solar Panel Cost Guide in Malden, MA (Mar 2023)
- Malden Solar Installation Cost: $9,179
- 25-Year Savings: $16,746
- Payback Period: 8.9 Years
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Updated March 14, 2023
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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 2.94. The average Malden homeowner needs a 4.5-kilowatt system, which would cost about $9,179 with the federal tax credit, or $13,126 before the 30% tax credit 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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
Solar system size, which is measured in kilowatts, 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 |
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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
What is the average cost of installing solar panels in Malden?
This is a hard question to answer precisely, because the cost depends on a variety of 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with 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 definitely 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 Malden?
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 do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.