Solar Panel Cost Guide in Millbury, MA (2023 Update)
- Millbury Solar Installation Cost: $9,215
- 25-Year Savings: $15,633
- Payback Period: 9.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Millbury
Here's how much it might cost to install solar panels in Millbury.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Millbury, the typical cost of a solar system is 2.94 per watt. Since a 4.5-kW system is needed to cover the energy usage of a typical home in Millbury, the average price of going solar will be about $9,220 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average Millbury homeowners see about $21,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Millbury
| Year | Return on Investment |
|---|---|
| 1 years | $-7,492 |
| 3 years | $-4,045 |
| 5 years | $-598 |
| 7 years | $2,849 |
| 9 years | $6,296 |
| 11 years | $9,742 |
| 13 years | $13,189 |
| 15 years | $16,636 |
| 17 years | $20,083 |
| 19 years | $23,530 |
| 21 years | $26,977 |
| 23 years | $30,424 |
| 25 years | $33,871 |
Top Solar Installers in Millbury
When switching to solar energy, many homeowners decide to hire a solar installation company since putting up a solar system yourself can be a difficult project. Plus, if you're not certain what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Millbury
Factors that Affect Solar Panel Costs in Millbury
For many Millbury homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Millbury, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need, 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 about $2,940. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Millbury, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Millbury to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to 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 APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Millbury, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $20,454 | 9.6 years |
| 8 kW | $3.00 | $16,793 | $27,601 | 9.5 years |
| 10 kW | $2.94 | $20,580 | $34,912 | 9.3 years |
| 12 kW | $2.88 | $24,202 | $42,389 | 9.1 years |
| 14 kW | $2.82 | $27,660 | $50,030 | 8.9 years |
| 16 kW | $2.76 | $30,952 | $57,836 | 8.7 years |
| 18 kW | $2.70 | $34,080 | $65,806 | 8.5 years |
| 20 kW | $2.65 | $37,044 | $73,941 | 8.3 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Millbury, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: When making the switch to solar power, it's important to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works 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 Millbury, MA Solar Cost FAQs
How much does it cost to install solar panels in Millbury?
The average cost of solar panels in Millbury 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.
Are solar panels free in Millbury?
A solar panel system isn't free in Millbury, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Millbury?
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 power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.