Solar Panel Cost Guide in Melrose, MA (Mar 2023)
- Melrose Solar Installation Cost: $9,179
- 25-Year Savings: $16,581
- Payback Period: 8.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Melrose
Let's have a look at the average cost of solar in Melrose.
The average cost of solar panels in Melrose is 2.94 per watt. To cover the typical energy usage of the average home in Melrose, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $9,179, or $13,126 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want, your solar contractor and more. Many homeowners find adopting solar power is a solid investment. The average homeowner in Melrose can save around $22,000 on their power bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.
Solar savings over time in Melrose
| Year | Return on Investment |
|---|---|
| 1 years | $-8,148 |
| 3 years | $-6,088 |
| 5 years | $-4,027 |
| 7 years | $-1,966 |
| 9 years | $95 |
| 11 years | $2,156 |
| 13 years | $4,216 |
| 15 years | $6,277 |
| 17 years | $8,338 |
| 19 years | $10,399 |
| 21 years | $12,459 |
| 23 years | $14,520 |
| 25 years | $16,581 |
Top Solar Installers in Melrose
Many homeowners decide to use a solar panel installer since installing solar panels yourself can be challenging. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Melrose
Factors that Affect Solar Panel Costs in Melrose
While the average cost of a solar system in Melrose is $9,179, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Melrose homeowners decide to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Melrose is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different costs. 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 come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you want and also fit into 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 | $3.06 | $12,842 | $21,816 | 9.3 years |
| 8 kW | $3.00 | $16,793 | $29,418 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,184 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,115 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,210 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $61,470 | 8.4 years |
| 18 kW | $2.70 | $34,080 | $69,895 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,484 | 8.0 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 models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar energy, it's important to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which company you should choose, since different companies have different panels.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Melrose, MA Solar Cost FAQs
How much does it cost to install solar panels in Melrose?
This is a difficult question to answer precisely, because the cost depends on many 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Melrose?
You can't get solar panels for free in Melrose. However, you may still be able to get 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.
Is it worth going solar in Melrose?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.