Solar Panel Cost Guide in Marblehead, MA (2023 Update)
- Marblehead Solar Installation Cost: $8,746
- 25-Year Savings: $16,789
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Marblehead
We go over average solar pricing in Marblehead.
Although the national average of solar panels is $2.66 per watt, solar panels in Marblehead generally cost about 2.94. To cover the typical energy needs of the average home in Marblehead, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,746, or $12,507 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Marblehead homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Marblehead can save around $23,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Marblehead that can help you get a more accurate cost estimate for your home.
Solar savings over time in Marblehead
| Year | Return on Investment |
|---|---|
| 1 years | $-7,725 |
| 3 years | $-5,682 |
| 5 years | $-3,639 |
| 7 years | $-1,597 |
| 9 years | $446 |
| 11 years | $2,489 |
| 13 years | $4,532 |
| 15 years | $6,575 |
| 17 years | $8,617 |
| 19 years | $10,660 |
| 21 years | $12,703 |
| 23 years | $14,746 |
| 25 years | $16,789 |
Top Solar Installers in Marblehead
Many homeowners opt for a solar panel installer since trying to install solar panels yourself can be time-consuming. The expertise that solar companies provide can be invaluable as well, especially if you don't quite know what brand of solar equipment you need.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Marblehead
Factors that Affect Solar Panel Costs in Marblehead
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Marblehead: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,940. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Marblehead average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Marblehead homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your all-in costs, so it's important to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you pick will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Marblehead have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $23,221 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,290 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,525 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,923 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,487 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,215 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,108 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,165 | 7.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- 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 you can expect about the project timeline.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Marblehead, MA Solar Cost FAQs
What is the average cost of installing solar panels in Marblehead?
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 higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Marblehead?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,202.09 per year.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.