Solar Panel Cost Guide in Methuen Town, MA (Sep 2022)

  • Methuen Town Solar Installation Cost: $8,746
  • 25-Year Savings: $17,178
  • Payback Period: 8.4 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 Methuen Town

Find out what the average cost of a solar system is in Methuen Town.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Methuen Town, the typical cost of solar panels is $3 per watt. To cover the typical energy needs of the average home in Methuen Town, most homeowners require a 4.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,746, or $6,472 after the federal solar tax credit of 30% is applied.

These figures are only averages, and your own solar costs may differ based on your energy needs and what company you choose to go with. Many homeowners find installing solar panels is a sound investment. The average homeowner in Methuen Town can save around $23,000 on their power bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Methuen Town

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 Methuen Town

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. The expertise that solar installers provide can be valuable as well, particularly if you don't quite know what brand of solar equipment would be right for your home.

If you're looking for a solar installer in Methuen Town, we've organized a list of our top suggestions here:

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

The Green Panel

★★★★★
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 Methuen Town

Factors that Affect Solar Panel Costs in Methuen Town

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Methuen Town: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

The size of the solar panel system you need for your home is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,940. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Methuen Town homeowners decide to finance their solar panel systems to make paying for solar more affordable. 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Methuen Town, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.

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

Solar Incentives in Methuen Town

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Incentive Amount 100% deduction
More Info Click here

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Cape Light Compact- Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Mass Save - HEAT Loan Program
Website Visit here
More Info Click here

Name Solar Massachusetts Renewable Target (SMART) Program
Website Visit here
More Info Click here

Name Mass Solar Loan Program
Website Visit here
More Info Click here

Name Residential and Small-Scale Ground-Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Commonwealth Woodstove Change-Out Program
Website Visit here
More Info Click here

Name Local Option - Energy Revolving Loan Fund
More Info Click here

Name Solar Renewable Energy Certificates (SREC-II)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a large number of companies to choose from in Methuen Town, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should go with, since different companies offer different panels.
  • Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.

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

The Green Panel

★★★★★
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 Methuen Town, MA Solar Cost FAQs

How much does it cost to install solar panels in Methuen Town?

The average cost of solar panels in Methuen Town 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Methuen Town?

Solar panels aren't free in Methuen Town, 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 help lower the cost.

How will solar panels impact the value of my home?

Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

How many solar panels do I need to power my home?

To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.

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