Solar Panel Cost Guide in Methuen Town, MA (2023 Update)
- Methuen Town Solar Installation Cost: $8,743
- 25-Year Savings: $17,181
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Methuen Town
We break down average solar pricing in Methuen Town.
The national average cost of solar panels is $2.66 per watt, but in Methuen Town it's 2.94 per watt. Using this figure, a typical 4.2-kW system would cost about $8,746 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Methuen Town based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. With average savings of about $23,000 on utility bills over 20 years, many homeowners in Methuen Town find installing solar panels can pay off big.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Methuen Town
| Year | Return on Investment |
|---|---|
| 1 years | $-8,657 |
| 3 years | $-8,484 |
| 5 years | $-8,311 |
| 7 years | $-8,138 |
| 9 years | $-7,966 |
| 11 years | $-7,793 |
| 13 years | $-7,620 |
| 15 years | $-7,447 |
| 17 years | $-7,274 |
| 19 years | $-7,102 |
| 21 years | $-6,929 |
| 23 years | $-6,756 |
| 25 years | $-6,583 |
Top Solar Installers in Methuen Town
When going solar, many homeowners decide to hire a solar company since installing solar panels yourself can be a challenging project. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Methuen Town
Factors that Affect Solar Panel Costs in Methuen Town
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,940 per kilowatt in Methuen Town. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get 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
Most solar installers in Methuen Town offer solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last key 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 different price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions 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 company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
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 Methuen Town, MA Solar Cost FAQs
How much does it cost to install solar panels in Methuen Town?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 extra 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 Methuen Town?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 buy between 20 and 35 panels to cover 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.