Solar Panel Cost Guide in North Reading, MA (2024 Update)
- North Reading Solar Installation Cost: $12,674
- 25-Year Savings: $14,505
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in North Reading
We break down average solar pricing in North Reading.
Currently, the national average cost of solar panels is $2.66 per watt. However, in North Reading, the typical cost of solar panels is 4 per watt.To cover the typical energy usage of the average home in North Reading, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,674, or $18,124 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in North Reading based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in North Reading can save around $20,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a customized quote.
Solar savings over time in North Reading
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-7,503 |
| 5 years | $-4,057 |
| 7 years | $-610 |
| 9 years | $2,837 |
| 11 years | $6,284 |
| 13 years | $9,731 |
| 15 years | $13,178 |
| 17 years | $16,625 |
| 19 years | $20,072 |
| 21 years | $23,518 |
| 23 years | $26,965 |
| 25 years | $30,412 |
Top Solar Installers in North Reading
Trying to install solar panels on your own can be a time-consuming task, which is why getting a solar installer is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, particularly if you don’t quite know what brand of solar equipment would be right for your home.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers in North Reading:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in North Reading
Factors that Affect Solar Panel Costs in North Reading
While the average cost of a solar system in North Reading is $12,674, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in North Reading have solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in North Reading is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that offer a range of services for different budgets.The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $14,129 | 13.9 years |
| 8 kW | $4.14 | $23,191 | $19,294 | 13.6 years |
| 10 kW | $4.06 | $28,420 | $24,686 | 13.4 years |
| 12 kW | $3.98 | $33,422 | $30,305 | 13.1 years |
| 14 kW | $3.90 | $38,196 | $36,152 | 12.8 years |
| 16 kW | $3.82 | $42,744 | $42,226 | 12.6 years |
| 18 kW | $3.74 | $47,064 | $48,527 | 12.3 years |
| 20 kW | $3.65 | $51,156 | $55,056 | 12.0 years |
How to Save on Solar Panels
There are a large number of companies available in North Reading, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Review 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's North Reading, MA Solar Cost FAQs
How much does it cost to install solar panels in North Reading?
The average cost of solar panels in North Reading is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind 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?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in North Reading?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.