Solar Panel Cost Guide in Medford, MA (2024 Update)
- Medford Solar Installation Cost: $12,674
- 25-Year Savings: $16,836
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Medford
We go over average solar pricing in Medford.
The national average cost of solar panels is $2.66 per watt, but in Medford it’s 4 per watt.The average solar panel system size in Medford is around 4.5 kilowatts, meaning a cost of about $12,674 for a solar installation, or $18,124 before the 0 federal solar tax credit 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 needs, the type of solar panels you choose, your solar contractor and more.Many homeowners find going solar is a fruitful investment. The average homeowner in Medford can save about $22,000 on their energy bills over 20 years.
To get a free quote from a vetted solar installer in Medford, you can click the button below.
Solar savings over time in Medford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-7,503 |
| 5 years | $-4,057 |
| 7 years | $-610 |
| 9 years | $2,837 |
| 11 years | $6,284 |
| 13 years | $9,731 |
| 15 years | $13,178 |
| 17 years | $16,625 |
| 19 years | $20,072 |
| 21 years | $23,518 |
| 23 years | $26,965 |
| 25 years | $30,412 |
Top Solar Installers in Medford
When switching to solar energy, many homeowners opt to go with a solar installer since putting up a solar system yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Medford
Factors that Affect Solar Panel Costs in Medford
There are many factors 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 does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Medford, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make adopting solar energy more accessible for Medford homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Medford have more knowledge about local solar incentives and can help you learn about 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 | $4.22 | $17,734 | $17,266 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,477 | 12.4 years |
| 10 kW | $4.06 | $28,420 | $29,914 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,579 | 11.9 years |
| 14 kW | $3.90 | $38,196 | $43,471 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,591 | 11.4 years |
| 18 kW | $3.74 | $47,064 | $57,938 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,512 | 11.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The kind of solar panel you’d like to get plays a role in which company you should go with, since different companies have different panels.
- Reputation: Long-running companies likely have a solid 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.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
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 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 few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Medford?
Leasing solar panels can be an attractive choice, because it usually 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Medford, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.