Solar Panel Cost Guide in Methuen Town, MA (Mar 2023)
- Methuen Town Solar Installation Cost: $8,746
- 25-Year Savings: $17,178
- Payback Period: 8.4 Years
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Updated March 14, 2023
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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 2.94 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 $12,507 before 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 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 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
The size of the solar panel system you need for your home, which is measured in kilowatts, 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 |
How to Save on Solar Panels
There are numerous companies to choose from in Methuen Town, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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 Methuen Town, MA Solar Cost FAQs
How much does it cost to install solar panels in Methuen Town?
This is a tough question to answer exactly, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
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 viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Methuen Town have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 install 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.