Solar Panel Cost Guide in North Reading, MA (Oct 2022)

  • North Reading Solar Installation Cost: $9,179
  • 25-Year Savings: $14,504
  • Payback Period: 9.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in North Reading

Here's how much it might cost to switch to solar power in North Reading.

The national average cost of solar panels is $2.66 per watt, but in North Reading it's $3 per watt. Using this figure, a typical 4.5 would cost about $9,179 before the 30% federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average North Reading homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $20,000 on power bills over 20 years, many homeowners in North Reading find investing in solar can pay off big.

For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in North Reading

Year Return on Investment
1 years $-8,231
3 years $-6,337
5 years $-4,442
7 years $-2,548
9 years $-653
11 years $1,242
13 years $3,136
15 years $5,031
17 years $6,925
19 years $8,820
21 years $10,714
23 years $12,609
25 years $14,504

Top Solar Installers in North Reading

When going solar, many homeowners decide to use a solar company since installing solar panels yourself can be a difficult project. The expertise that solar installers offer can be invaluable as well, particularly if you aren't sure what type of solar equipment you need.

There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 North Reading

Factors that Affect Solar Panel Costs in North Reading

Although the average cost of solar panels in North Reading is $9,179, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size. Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in North Reading to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of 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 in some cases even your APR by making a larger down payment.

Solar Panel Installation Company

A final factor to keep in mind when trying to figure out the cost of solar for your home or business in North Reading is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $19,022 10.1 years
8 kW $3.00 $16,793 $25,691 9.9 years
10 kW $2.94 $20,580 $32,526 9.7 years
12 kW $2.88 $24,202 $39,525 9.5 years
14 kW $2.82 $27,660 $46,689 9.3 years
16 kW $2.76 $30,952 $54,017 9.1 years
18 kW $2.70 $34,080 $61,510 8.9 years
20 kW $2.65 $37,044 $69,168 8.7 years

Solar Incentives in North Reading

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 a lot of solar installers to choose from, all of which offer different warranties, solar panel brands 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 verifiable 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 good reviews from past customers.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
  • Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: The kind of solar panel you want plays a role in which company you should opt for, since different companies have access to different panels.

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 North Reading, MA Solar Cost FAQs

How much does it cost to install solar panels in North Reading?

This is a difficult question to answer exactly, 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 higher-than-average energy usage. Conversely, you can spend less if you go with 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 reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

Do solar panels increase how much your home is worth?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in North Reading is currently $536,700, so you can expect about a value of about $22,005 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in North Reading is a fruitful investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a 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 get 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.

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