Solar Panel Cost Guide in Nantucket, MA (2024 Update)
- Nantucket Solar Installation Cost: $11,772
- 25-Year Savings: $21,820
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Nantucket
Find out how much it might cost to install solar panels in Nantucket.
While the national average of solar panels is $2.66 per watt, solar panels in Nantucket generally cost about 4.To cover the typical energy needs of the average home in Nantucket, most homeowners require a 4.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,772, or $16,834 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $28,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Nantucket
| Year | Return on Investment |
|---|---|
| 1 years | $-10,018 |
| 3 years | $-6,512 |
| 5 years | $-3,006 |
| 7 years | $501 |
| 9 years | $4,007 |
| 11 years | $7,513 |
| 13 years | $11,020 |
| 15 years | $14,526 |
| 17 years | $18,032 |
| 19 years | $21,538 |
| 21 years | $25,045 |
| 23 years | $28,551 |
| 25 years | $32,057 |
Top Solar Installers in Nantucket
Many homeowners decide to use a solar panel company since installing solar panels by yourself can be hard. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Nantucket
Factors that Affect Solar Panel Costs in Nantucket
There are many criteria that can affect your solar system 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
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $4,060 per kilowatt in Nantucket.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Nantucket, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.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 upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Nantucket are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $26,221 | 10.1 years |
| 8 kW | $4.14 | $23,191 | $35,416 | 9.9 years |
| 10 kW | $4.06 | $28,420 | $44,839 | 9.7 years |
| 12 kW | $3.98 | $33,422 | $54,489 | 9.5 years |
| 14 kW | $3.90 | $38,196 | $64,366 | 9.3 years |
| 16 kW | $3.82 | $42,744 | $74,470 | 9.1 years |
| 18 kW | $3.74 | $47,064 | $84,802 | 8.9 years |
| 20 kW | $3.65 | $51,156 | $95,362 | 8.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the completion timeline.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Nantucket, MA Solar Cost FAQs
What is the average cost of installing solar panels in Nantucket?
The average cost of solar panels in Nantucket is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Nantucket is currently $2,630,495, which means you could be looking at a value of about $107,850 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Nantucket is a fruitful investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 get 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.