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.To account for the typical energy needs of the average home in Medfield, most homeowners require a 4.4-kilowatt system. Using the figure above, a solar installation costs about $12,529, or $17,916 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Despite the large initial cost, the average Medfield homeowner can save about $22,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free estimate from a highly rated solar installation company in Medfield, you can 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
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be time-consuming. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Medfield
Factors that Affect Solar Panel Costs in Medfield
For many Medfield homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Medfield, 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
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, 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 researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Medfield to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.It’s wise to include 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 off the loan.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Medfield, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — 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 go with the company that provides the products, warranties and services you want 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 | $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. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re concerned about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Medfield, MA Solar Cost FAQs
How much does it cost to install solar panels in Medfield?
This is a hard 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Medfield?
You can’t get solar panels for free in Medfield. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Medfield, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Medfield?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.