Solar Panel Cost Guide in Merrimac, MA (2023 Update)
- Merrimac Solar Installation Cost: $8,746
- 25-Year Savings: $17,178
- Payback Period: 8.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Merrimac
Let's have a look at the average cost of solar in Merrimac.
The national average cost of solar panels is $2.66 per watt, but in Merrimac it's 2.94 per watt. The average solar panel system size in Merrimac is around 4.2 kilowatts, meaning a cost of about $8,746 for a solar installation, or $12,507 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more. Even with the large initial cost, the average Merrimac homeowner can save about $23,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar company in Merrimac that can help you get a more accurate cost estimate for your home.
Solar savings over time in Merrimac
| Year | Return on Investment |
|---|---|
| 1 years | $-7,710 |
| 3 years | $-5,636 |
| 5 years | $-3,562 |
| 7 years | $-1,488 |
| 9 years | $586 |
| 11 years | $2,660 |
| 13 years | $4,734 |
| 15 years | $6,808 |
| 17 years | $8,882 |
| 19 years | $10,956 |
| 21 years | $13,030 |
| 23 years | $15,104 |
| 25 years | $17,178 |
Top Solar Installers in Merrimac
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make swapping over to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you decide which one will be right for you.
There are various licensed solar professionals that can install solar panels for you. 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
See all of the solar companies in Merrimac
Factors that Affect Solar Panel Costs in Merrimac
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,940. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Merrimac to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $23,770 | 8.8 years |
| 8 kW | $3.00 | $16,793 | $32,023 | 8.6 years |
| 10 kW | $2.94 | $20,580 | $40,440 | 8.4 years |
| 12 kW | $2.88 | $24,202 | $49,022 | 8.3 years |
| 14 kW | $2.82 | $27,660 | $57,769 | 8.1 years |
| 16 kW | $2.76 | $30,952 | $66,680 | 7.9 years |
| 18 kW | $2.70 | $34,080 | $75,756 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $84,997 | 7.6 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Merrimac, MA Solar Cost FAQs
How much does it cost to install solar panels in Merrimac?
The average cost of solar panels in Merrimac is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Merrimac?
Solar panels aren't free in Merrimac, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.