Solar Panel Cost Guide in Medford, MA (Jan 2023)
- Medford Solar Installation Cost: $9,179
- 25-Year Savings: $16,835
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
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:
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.
System size, which is measured in kilowatts, is one of the largest factors that determines 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.
EcoWatch's Medford, MA Solar Cost FAQs
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.