Solar Panel Cost Guide in Needham, MA (2023 Update)
- Needham Solar Installation Cost: $9,073
- 25-Year Savings: $16,052
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Needham
Let's have a look at the average cost of solar in Needham.
Although the national average of solar panels is $2.66 per watt, solar panels in Needham typically cost around 2.94. The average solar panel system size in Needham is around 4.4 kilowatts, meaning a cost of about $9,076 for a solar installation, or $12,979 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may vary based on your energy needs and what company you go with. With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Needham find going solar can pay off big.
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 Needham
| Year | Return on Investment |
|---|---|
| 1 years | $-8,989 |
| 3 years | $-8,822 |
| 5 years | $-8,654 |
| 7 years | $-8,487 |
| 9 years | $-8,319 |
| 11 years | $-8,152 |
| 13 years | $-7,984 |
| 15 years | $-7,817 |
| 17 years | $-7,649 |
| 19 years | $-7,482 |
| 21 years | $-7,314 |
| 23 years | $-7,147 |
| 25 years | $-6,979 |
Top Solar Installers in Needham
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make converting to solar power much easier. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Needham
Factors that Affect Solar Panel Costs in Needham
The cost of installing a solar system in Needham can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Needham, one of the most crucial 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 usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,940 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Needham, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
If paying for solar panels in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Needham have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.06 | $12,842 | $21,352 | 9.4 years |
| 8 kW | $3.00 | $16,793 | $28,798 | 9.2 years |
| 10 kW | $2.94 | $20,580 | $36,409 | 9.0 years |
| 12 kW | $2.88 | $24,202 | $44,185 | 8.8 years |
| 14 kW | $2.82 | $27,660 | $52,126 | 8.7 years |
| 16 kW | $2.76 | $30,952 | $60,231 | 8.5 years |
| 18 kW | $2.70 | $34,080 | $68,500 | 8.3 years |
| 20 kW | $2.65 | $37,044 | $76,935 | 8.1 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 choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Warranty: If you're worried about the durability of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Needham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Needham?
The average cost of solar panels in Needham 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Solar panels can increase your home value 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 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 stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having 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.