Solar Panel Cost Guide in Medfield, MA (2024 Update)
- Medfield Solar Installation Cost: $12,529
- 25-Year Savings: $17,030
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Medfield
See how much it might cost to install solar panels in Medfield.
In Medfield, solar panels cost about 4 per watt on average.Since a 4.4-kW system is needed to cover the energy consumption of a typical home in Medfield, the average price of going solar will be about $12,529 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs will differ based on the amount of energy your home requires and what company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on electricity bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Medfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,928 |
| 3 years | $-7,725 |
| 5 years | $-4,523 |
| 7 years | $-1,320 |
| 9 years | $1,882 |
| 11 years | $5,085 |
| 13 years | $8,288 |
| 15 years | $11,490 |
| 17 years | $14,693 |
| 19 years | $17,896 |
| 21 years | $21,098 |
| 23 years | $24,301 |
| 25 years | $27,503 |
Top Solar Installers in Medfield
Although it's possible to install solar panels yourself, it requires extra time and handiness. Because of that, most homeowners choose to go with a solar panel installer. Solar warranties and repairs are usually included in the cost of installation when you opt for a solar contractor as well, which can save you more money after your upfront investment.
If you're searching for a solar installer in Medfield, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Medfield
Factors that Affect Solar Panel Costs in Medfield
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Medfield: 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 to offset your energy usage, 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 around $4,060. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Medfield have solar loans, which reduce the initial cost of installing a solar system.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can impact how much you pay. Medfield’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically 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 extra services like electric vehicle 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 | $4.22 | $17,734 | $17,791 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $24,176 | 12.2 years |
| 10 kW | $4.06 | $28,420 | $30,789 | 12.0 years |
| 12 kW | $3.98 | $33,422 | $37,629 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,696 | 11.5 years |
| 16 kW | $3.82 | $42,744 | $51,990 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $59,512 | 11.0 years |
| 20 kW | $3.65 | $51,156 | $67,262 | 10.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Medfield, MA Solar Cost FAQs
How much does it cost to install solar panels in Medfield?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 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 consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Medfield?
Solar panels aren’t free in Medfield, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,184.18 per year.
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 higher amount 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.