Solar Panel Cost Guide in Nantucket, MA (2023 Update)
- Nantucket Solar Installation Cost: $8,520
- 25-Year Savings: $21,824
- Payback Period: 7.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Nantucket
We break down average solar pricing in Nantucket.
The national average cost of solar panels is $2.66 per watt, but in Nantucket it's 2.94 per watt. To account for the typical energy needs of the average home in Nantucket, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs around $8,520, or $12,184 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Nantucket depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $28,000 on energy bills over 20 years, many homeowners in Nantucket find investing in solar can pay off big.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Nantucket
| Year | Return on Investment |
|---|---|
| 1 years | $-7,306 |
| 3 years | $-4,879 |
| 5 years | $-2,451 |
| 7 years | $-24 |
| 9 years | $2,404 |
| 11 years | $4,831 |
| 13 years | $7,259 |
| 15 years | $9,686 |
| 17 years | $12,114 |
| 19 years | $14,541 |
| 21 years | $16,969 |
| 23 years | $19,396 |
| 25 years | $21,824 |
Top Solar Installers in Nantucket
Although it's possible to install solar panels yourself, it involves extra time and handiness. That's why most homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be useful as well, particularly if you don't quite know what brand of solar equipment you need.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Nantucket
Factors that Affect Solar Panel Costs in Nantucket
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of solar panels in Nantucket, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. The 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. In addition, add-on products, like solar batteries, can bump up your total well above the Nantucket average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Nantucket homeowners decide to finance their solar panel systems to offset upfront costs. Even though solar loans make adopting solar energy more accessible for Nantucket homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence your pricing. Nantucket's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $31,113 | 7.3 years |
| 8 kW | $3.00 | $16,793 | $41,814 | 7.2 years |
| 10 kW | $2.94 | $20,580 | $52,679 | 7.0 years |
| 12 kW | $2.88 | $24,202 | $63,708 | 6.9 years |
| 14 kW | $2.82 | $27,660 | $74,903 | 6.7 years |
| 16 kW | $2.76 | $30,952 | $86,262 | 6.6 years |
| 18 kW | $2.70 | $34,080 | $97,785 | 6.5 years |
| 20 kW | $2.65 | $37,044 | $109,474 | 6.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should opt for, since different companies provide different panels.
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Nantucket, MA Solar Cost FAQs
How much does it cost to install solar panels in Nantucket?
This is a difficult 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Nantucket?
You can't get solar panels for free in Nantucket. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does Nantucket have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.