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

  • Medford Solar Installation Cost: $9,179
  • 25-Year Savings: $16,835
  • Payback Period: 8.8 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 Medford

Let's take a look at the average cost of solar panels in Medford.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Medford, the typical cost of a solar system is $3 per watt. Using this figure, a typical 4.5 would cost about $9,179 before 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 exact cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a sound investment. The average homeowner in Medford can save around $22,000 on their energy bills over 20 years.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Medford

Year Return on Investment
1 years $-8,138
3 years $-6,057
5 years $-3,976
7 years $-1,895
9 years $186
11 years $2,267
13 years $4,348
15 years $6,430
17 years $8,511
19 years $10,592
21 years $12,673
23 years $14,754
25 years $16,835

Top Solar Installers in Medford

Although you can install solar panels on your own, it involves extra energy and know-how. For that reason, most people choose a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:

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

Tesla Energy

★★★★★
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 Medford

Factors that Affect Solar Panel Costs in Medford

There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

Size is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than 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 looking into a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Medford to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time due to interest. While solar loans make switching to solar energy more accessible for Medford homeowners, they can also increase 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

The solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Medford, and each can charge different amounts for labor and equipment. Additionally, some companies in Medford 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 walking you through the whole process. Even if they cost more upfront, they could help you save 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 $22,159 9.2 years
8 kW $3.00 $16,793 $29,874 9.0 years
10 kW $2.94 $20,580 $37,754 8.8 years
12 kW $2.88 $24,202 $45,799 8.6 years
14 kW $2.82 $27,660 $54,008 8.5 years
16 kW $2.76 $30,952 $62,382 8.3 years
18 kW $2.70 $34,080 $70,921 8.1 years
20 kW $2.65 $37,044 $79,624 7.9 years

How to Save on Solar Panels

Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
  • Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.

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

Tesla Energy

★★★★★
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 Medford, MA Solar Cost FAQs

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

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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Are solar panels free in Medford?

Solar panels aren't free in Medford, but there are some options that can make getting them more viable, 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 power bills after switching to solar?

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 $1,166.68 per year.

How long do solar panels last in Medford?

Even though 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 how much energy they produce will have decreased significantly after that point. You can replace them after having 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.

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