Solar Panel Cost Guide in New Bedford, MA (2023 Update)
- New Bedford Solar Installation Cost: $8,911
- 25-Year Savings: $17,162
- Payback Period: 8.5 Years
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Updated May 04, 2023
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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 2.94. The average New Bedford homeowner needs a 4.3-kilowatt system, which would cost about $8,911 with the federal tax credit, or $12,743 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average New Bedford homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average New Bedford homeowners see about $23,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar installer, 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
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar panel installer can make your switch to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our recommendations for providers 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 New Bedford
Factors that Affect Solar Panel Costs in New Bedford
Although the average cost of a solar system in New Bedford is $8,911, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,940. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in New Bedford to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest. However, the interest on solar loans also increases your total costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in New Bedford, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Some companies 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're looking for and also fit into 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 |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from previous customers.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
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 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 more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in New Bedford?
You can't get solar panels for free in New Bedford. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does New Bedford have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.