Solar Panel Cost Guide in Northborough, MA (2023 Update)
- Northborough Solar Installation Cost: $9,220
- 25-Year Savings: $14,194
- Payback Period: 9.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Northborough
Let's have a look at the average cost of solar panels in Northborough.
The average cost of a solar panel system in Northborough is 2.94 per watt. The average solar panel system size in Northborough is around 4.5 kilowatts, meaning a cost of about $9,220 for a solar installation, or $13,185 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will vary based on factors unique to your home and what company you choose to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average Northborough homeowners see about $20,000 in savings on utility bills over 20 years.
To receive a free estimate from a pre-vetted solar company in Northborough, you can click the button below.
Solar savings over time in Northborough
| Year | Return on Investment |
|---|---|
| 1 years | $-8,283 |
| 3 years | $-6,410 |
| 5 years | $-4,537 |
| 7 years | $-2,664 |
| 9 years | $-791 |
| 11 years | $1,082 |
| 13 years | $2,956 |
| 15 years | $4,829 |
| 17 years | $6,702 |
| 19 years | $8,575 |
| 21 years | $10,448 |
| 23 years | $12,321 |
| 25 years | $14,194 |
Top Solar Installers in Northborough
When making the switch to solar, many homeowners decide to go with a solar installer since handling can be a time-consuming project. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Northborough
Factors that Affect Solar Panel Costs in Northborough
There are a number of criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,940. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. 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 Northborough to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can affect the cost. Northborough's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Northborough have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $18,532 | 10.2 years |
| 8 kW | $3.00 | $16,793 | $25,038 | 10.0 years |
| 10 kW | $2.94 | $20,580 | $31,709 | 9.8 years |
| 12 kW | $2.88 | $24,202 | $38,545 | 9.6 years |
| 14 kW | $2.82 | $27,660 | $45,545 | 9.4 years |
| 16 kW | $2.76 | $30,952 | $52,710 | 9.2 years |
| 18 kW | $2.70 | $34,080 | $60,040 | 9.1 years |
| 20 kW | $2.65 | $37,044 | $67,534 | 8.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The type of solar panel you want plays a role in which installer you should opt for, since different companies have different panels.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
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 Northborough, MA Solar Cost FAQs
How much does it cost to install solar panels in Northborough?
The average cost of solar panels in Northborough is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Northborough is currently $447,100, so you can look forward to a value of about $18,331 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Northborough is a fruitful investment.
How long do solar panels last in Northborough?
On average, solar panels can last 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 level 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.