Solar Panel Cost Guide in Millbury, MA (2024 Update)
- Millbury Solar Installation Cost: $12,726
- 25-Year Savings: $15,633
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Millbury
Find out what the average cost of a solar system is in Millbury.
The average cost of a solar panel system in Millbury is 4 per watt.To cover the typical energy needs of the average home in Millbury, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs around $12,726, or $18,198 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you will vary based on factors unique to your home and what company you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Millbury can save about $21,000 on their electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Millbury
| Year | Return on Investment |
|---|---|
| 1 years | $-11,002 |
| 3 years | $-7,556 |
| 5 years | $-4,109 |
| 7 years | $-662 |
| 9 years | $2,785 |
| 11 years | $6,232 |
| 13 years | $9,679 |
| 15 years | $13,126 |
| 17 years | $16,572 |
| 19 years | $20,019 |
| 21 years | $23,466 |
| 23 years | $26,913 |
| 25 years | $30,360 |
Top Solar Installers in Millbury
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make switching to solar power much easier. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our suggestions 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Millbury
Factors that Affect Solar Panel Costs in Millbury
There are a number of criteria that can determine 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
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Millbury average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to 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 remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Millbury, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $15,561 | 13.3 years |
| 8 kW | $4.14 | $23,191 | $21,203 | 13.1 years |
| 10 kW | $4.06 | $28,420 | $27,072 | 12.8 years |
| 12 kW | $3.98 | $33,422 | $33,169 | 12.5 years |
| 14 kW | $3.90 | $38,196 | $39,493 | 12.3 years |
| 16 kW | $3.82 | $42,744 | $46,044 | 12.0 years |
| 18 kW | $3.74 | $47,064 | $52,823 | 11.8 years |
| 20 kW | $3.65 | $51,156 | $59,829 | 11.5 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Millbury, MA Solar Cost FAQs
How much does it cost to install solar panels in Millbury?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Millbury?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.