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

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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 National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us