Solar Panel Cost Guide in Millis, MA (2023 Update)
- Millis Solar Installation Cost: $9,076
- 25-Year Savings: $17,027
- Payback Period: 8.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Millis
See how much it might cost to switch to solar power in Millis.
While the national average of solar panels is $2.66 per watt, solar panels in Millis generally cost around 2.94. Since a 4.4-kW system is needed to cover the energy needs of a typical home in Millis, the average price of going solar will be about $9,076 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Millis homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $22,000 on utility bills over 20 years, many homeowners in Millis find investing in solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Millis
| Year | Return on Investment |
|---|---|
| 1 years | $-8,032 |
| 3 years | $-5,943 |
| 5 years | $-3,855 |
| 7 years | $-1,767 |
| 9 years | $321 |
| 11 years | $2,410 |
| 13 years | $4,498 |
| 15 years | $6,586 |
| 17 years | $8,674 |
| 19 years | $10,763 |
| 21 years | $12,851 |
| 23 years | $14,939 |
| 25 years | $17,027 |
Top Solar Installers in Millis
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make your switch to solar power much easier. The expertise that solar installers offer can be useful as well, especially if you aren't sure what kind of solar equipment would be right for your home.
If you're looking for a solar company in Millis, the EcoWatch team has 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 Millis
Factors that Affect Solar Panel Costs in Millis
There are several criteria 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
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,940. There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that offer higher 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
If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. 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 principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Millis, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with 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 car 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 | $22,683 | 9.0 years |
| 8 kW | $3.00 | $16,793 | $30,574 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,629 | 8.7 years |
| 12 kW | $2.88 | $24,202 | $46,848 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $55,233 | 8.3 years |
| 16 kW | $2.76 | $30,952 | $63,782 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $72,495 | 8.0 years |
| 20 kW | $2.65 | $37,044 | $81,374 | 7.8 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 picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- 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.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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 Millis, MA Solar Cost FAQs
How much does it cost to install solar panels in Millis?
This is a difficult question to answer exactly, because the cost depends on a few different 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Millis?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 bang for your buck from going solar.
How will installing solar panels impact my home value?
Solar panels can increase the value of your home 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 should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.