Solar Panel Cost Guide in New Bedford, MA (Aug 2022)
- New Bedford Solar Installation Cost: $9,420
- 25-Year Savings: $16,653
- Payback Period: 9.0 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in New Bedford
Here's how much it might cost to make the switch to solar in New Bedford.
In New Bedford, solar panels cost about $3 per watt on average. Because a 4.3-kW system is needed to cover the energy needs of a typical home in New Bedford, the average price of going solar will be about $9,420 before claiming the federal solar tax credit.
The true cost of your system can go higher or lower than the average in New Bedford based on several factors, such as the type of solar panels you choose and the solar contractor you hire. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $23,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in New Bedford that can help you get a more accurate cost estimate for your home.
Solar savings over time in New Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,377 |
| 3 years | $-6,292 |
| 5 years | $-4,206 |
| 7 years | $-2,120 |
| 9 years | $-34 |
| 11 years | $2,052 |
| 13 years | $4,138 |
| 15 years | $6,224 |
| 17 years | $8,310 |
| 19 years | $10,396 |
| 21 years | $12,481 |
| 23 years | $14,567 |
| 25 years | $16,653 |
Top Solar Installers in New Bedford
Putting up solar panels yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for your family.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in New Bedford:
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
Even though the average cost of solar panels in New Bedford is $9,420, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment Size
When it comes to estimating the cost 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 mainly based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like New Bedford, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in New Bedford to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time because of interest. Even though solar loans make switching to solar energy more accessible for New Bedford homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in New Bedford is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that offer a range of services at different price points. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $13,576 | $22,565 | 9.4 years |
| 8 kW | $3.00 | $17,753 | $30,434 | 9.2 years |
| 10 kW | $2.94 | $21,756 | $38,478 | 9.0 years |
| 12 kW | $2.88 | $25,585 | $46,696 | 8.8 years |
| 14 kW | $2.82 | $29,240 | $55,088 | 8.7 years |
| 16 kW | $2.76 | $32,721 | $63,654 | 8.5 years |
| 18 kW | $2.70 | $36,028 | $72,394 | 8.3 years |
| 20 kW | $2.65 | $39,161 | $81,308 | 8.1 years |
Solar Incentives in New Bedford
| Name | Solar Massachusetts Renewable Target (SMART) Program |
| Incentive Amount | (Base compensation rate + compensation rate adders - greenfield subtractor) * total kWh generated - value of energy generated |
| Incentive Max | The ceiling price for the competitive procurement to determine the base compensation rate was $0.17/kWh. For systems 25 kW or less, the combination of a base compensation rate and adder may not exceed the base compensation rate for low-income projects less than or equal to 25 kW. |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SREC-II) |
| Incentive Amount | Varies, depending on market supply and demand |
| Incentive Max | 2017 compliance year: Alternative Compliance Payment Rate is $350 per MWh (~$0.35 per kWh) |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Property Tax Exemption |
| Incentive Amount | 100% exemption for 20 years |
| Incentive Max | Not specified |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Income Tax Credit |
| Incentive Amount | 15% |
| Incentive Max | $1,000 |
| More Info | Click here |
| Name | Mass Solar Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Local Option - Energy Revolving Loan Fund |
| More Info | Click here |
| Name | Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal) |
| Incentive Amount | 100% deduction |
| More Info | Click here |
| Name | Reading Municipal Light Department - Residential Renewable Energy Rebates |
| Incentive Amount | MLP Solar Rebate Program: $1.20 per watt Residential Renewable Energy Rebate Program: $1.00 per watt |
| Incentive Max | MLP Solar Rebate Program: 50% of cost or $30,000, whichever is less Residential Renewable Energy Rebate Program: $2,000 |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Equipment Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| 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 find the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable 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.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
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
What is the average cost of installing solar panels in New Bedford?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going 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.
Is it worth going solar in New Bedford?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in New Bedford?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.
