Solar Panel Cost Guide in Maynard, MA (Oct 2022)

  • Maynard Solar Installation Cost: $9,179
  • 25-Year Savings: $13,851
  • Payback Period: 10.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Maynard

Here's how much it might cost to make the switch to solar in Maynard.

The average cost of a solar system in Maynard is $3 per watt. The average solar panel system size in Maynard is around 4.5 kilowatts, meaning a cost of about $9,179 for a solar installation, or $6,792 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $20,000 over 20 years on energy bills.

Click the button below to get connected to a top solar panel company in Maynard for a customized quote.

Solar savings over time in Maynard

Year Return on Investment
1 years $-8,258
3 years $-6,415
5 years $-4,573
7 years $-2,730
9 years $-888
11 years $954
13 years $2,797
15 years $4,639
17 years $6,481
19 years $8,324
21 years $10,166
23 years $12,008
25 years $13,851

Top Solar Installers in Maynard

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of a solar company can make converting to solar power much easier. The expertise that solar companies offer can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.

You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Maynard:

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 Maynard

Factors that Affect Solar Panel Costs in Maynard

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that will push your cost above or below the average in Maynard: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment Size

When it comes to estimating the cost of a solar system in Maynard, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will largely impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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's in your budget.

Solar Financing Terms

Most solar installers in Maynard have solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The solar company you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Maynard, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

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 $18,143 10.4 years
8 kW $3.00 $16,793 $24,520 10.2 years
10 kW $2.94 $20,580 $31,061 10.0 years
12 kW $2.88 $24,202 $37,768 9.8 years
14 kW $2.82 $27,660 $44,638 9.6 years
16 kW $2.76 $30,952 $51,674 9.4 years
18 kW $2.70 $34,080 $58,874 9.2 years
20 kW $2.65 $37,044 $66,239 9.0 years

Solar Incentives in Maynard

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 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 Hudson Light & Power - Photovoltaic Incentive 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

There are a large number of companies available in Maynard, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
  • Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.

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 Maynard, MA Solar Cost FAQs

What is the average cost of installing solar panels in Maynard?

The average cost of solar panels in Maynard 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Maynard?

Leasing solar panels can be an appealing choice, because it often 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 way to go if you want to get the most savings.

How much can I save on power bills after installing solar panels?

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 $1,032.83 per year.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.

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