Solar Panel Cost Guide in New Bedford, MA (Oct 2022)
- New Bedford Solar Installation Cost: $8,911
- 25-Year Savings: $17,162
- Payback Period: 8.5 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in New Bedford
Find out what the average cost of a solar system is in New Bedford.
While the national average of solar panels is $2.66 per watt, solar panels in New Bedford typically cost around $3. The average solar panel system size in New Bedford is around 4.3 kilowatts, meaning a cost of about $8,911 for a solar installation, or $6,594 after the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. Even with the high upfront cost, the average New Bedford homeowner can save around $23,000 on their energy bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a vetted solar installer in New Bedford, you can click the button below.
Solar savings over time in New Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-7,868 |
| 3 years | $-5,782 |
| 5 years | $-3,696 |
| 7 years | $-1,611 |
| 9 years | $475 |
| 11 years | $2,561 |
| 13 years | $4,647 |
| 15 years | $6,733 |
| 17 years | $8,819 |
| 19 years | $10,905 |
| 21 years | $12,991 |
| 23 years | $15,076 |
| 25 years | $17,162 |
Top Solar Installers in New Bedford
Although it's possible to install solar panels by yourself, it takes extra labor and knowledge. For that reason, almost all homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be invaluable as well, especially if you don't quite know what type of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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
The Green Panel
- 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 New Bedford
Factors that Affect Solar Panel Costs in New Bedford
There are many criteria that can determine 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 system.
Solar Equipment Size
When it comes to estimating the price of a solar system in New Bedford, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. 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 in the long run on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the New Bedford average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in New Bedford, and each can charge varying amounts for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers the products, warranties and services you want 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 | $3.06 | $12,842 | $23,299 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,394 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,654 | 8.5 years |
| 12 kW | $2.88 | $24,202 | $48,079 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,668 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,422 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,341 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,424 | 7.7 years |
Solar Incentives in New Bedford
| Name | Residential Renewable Energy Income Tax Credit |
| Incentive Amount | 15% |
| More Info | Click here |
| Name | Renewable Energy Equipment Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Website | Visit here |
| More Info | Click here |
| Name | Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal) |
| Incentive Amount | 100% deduction |
| More Info | Click here |
| Name | Renewable Energy Property Tax Exemption |
| Website | Visit here |
| More Info | Click here |
| Name | Cape Light Compact- Residential Energy Efficiency Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Mass Save - HEAT Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Massachusetts Renewable Target (SMART) Program |
| Website | Visit here |
| More Info | Click here |
| Name | Mass Solar Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Residential and Small-Scale Ground-Source Heat Pump Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Commonwealth Woodstove Change-Out Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Energy Revolving Loan Fund |
| More Info | Click here |
| Name | Solar Renewable Energy Certificates (SREC-II) |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should go with, since different companies have access to different panels.
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
The Green Panel
- 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 New Bedford, MA Solar Cost FAQs
How much does it cost to install solar panels in New Bedford?
This is a difficult question to answer precisely, because the cost depends on many 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 higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in New Bedford?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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 much can I save on power bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in New Bedford, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 buy between 20 and 35 panels to account for 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.
