Solar Panel Cost Guide in Manchester-by-the-Sea, MA (2023 Update)
- Manchester-by-the-Sea Solar Installation Cost: $8,743
- 25-Year Savings: $17,181
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Manchester-by-the-Sea
See how much it might cost to install solar panels in Manchester-by-the-Sea.
Although the national average of solar panels is $2.66 per watt, solar panels in Manchester-by-the-Sea generally cost about 2.94. To account for the typical energy needs of the average home in Manchester-by-the-Sea, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,746, or $12,507 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $23,000 over 20 years on electricity bills.
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Solar savings over time in Manchester-by-the-Sea
| Year | Return on Investment |
|---|---|
| 1 years | $-7,020 |
| 3 years | $-3,573 |
| 5 years | $-126 |
| 7 years | $3,321 |
| 9 years | $6,768 |
| 11 years | $10,214 |
| 13 years | $13,661 |
| 15 years | $17,108 |
| 17 years | $20,555 |
| 19 years | $24,002 |
| 21 years | $27,449 |
| 23 years | $30,896 |
| 25 years | $34,343 |
Top Solar Installers in Manchester-by-the-Sea
When switching to solar energy, many homeowners decide to hire a solar installer since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. 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 Manchester-by-the-Sea
Factors that Affect Solar Panel Costs in Manchester-by-the-Sea
Even though the average cost of a solar system in Manchester-by-the-Sea is $8,746, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,940. The model of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. While solar loans make going solar more accessible for Manchester-by-the-Sea homeowners, they can also raise 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
Lastly, the company you choose to install your solar panel system can affect the cost. Manchester-by-the-Sea's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to 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 down to compete with bigger names.
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 | $23,770 | 8.8 years |
| 8 kW | $3.00 | $16,793 | $32,023 | 8.6 years |
| 10 kW | $2.94 | $20,580 | $40,440 | 8.4 years |
| 12 kW | $2.88 | $24,202 | $49,022 | 8.3 years |
| 14 kW | $2.82 | $27,660 | $57,769 | 8.1 years |
| 16 kW | $2.76 | $30,952 | $66,680 | 7.9 years |
| 18 kW | $2.70 | $34,080 | $75,756 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $84,997 | 7.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases provide good-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
EcoWatch's Manchester-by-the-Sea, MA Solar Cost FAQs
How much does it cost to install solar panels in Manchester-by-the-Sea?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally 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 be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Manchester-by-the-Sea?
Leasing solar panels can be an appealing choice, because 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 way to go if you want to get the most savings.
Does Manchester-by-the-Sea have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.