Solar Panel Cost Guide in Norwell, MA (Mar 2023)
- Norwell Solar Installation Cost: $8,520
- 25-Year Savings: $17,039
- Payback Period: 8.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Norwell
Find out what the average cost of installing solar panels is in Norwell.
In Norwell, solar panels cost about 2.94 per watt on average. Because a 4.1-kW system is needed to cover the energy needs of a typical home in Norwell, the average price of going solar will be about $8,520 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average Norwell homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $23,000 on power bills over 20 years, many homeowners in Norwell find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Norwell
| Year | Return on Investment |
|---|---|
| 1 years | $-7,498 |
| 3 years | $-5,453 |
| 5 years | $-3,408 |
| 7 years | $-1,363 |
| 9 years | $681 |
| 11 years | $2,726 |
| 13 years | $4,771 |
| 15 years | $6,816 |
| 17 years | $8,860 |
| 19 years | $10,905 |
| 21 years | $12,950 |
| 23 years | $14,995 |
| 25 years | $17,039 |
Top Solar Installers in Norwell
Trying to put up solar panels yourself can be a time-consuming project, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for your family.
If you're searching for a solar company in Norwell, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Norwell
Factors that Affect Solar Panel Costs in Norwell
While the average cost of a solar system in Norwell is $8,520, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,940 per kilowatt in Norwell. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Norwell average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Norwell, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect the cost. Norwell's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Norwell have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $24,218 | 8.7 years |
| 8 kW | $3.00 | $16,793 | $32,620 | 8.5 years |
| 10 kW | $2.94 | $20,580 | $41,187 | 8.3 years |
| 12 kW | $2.88 | $24,202 | $49,919 | 8.2 years |
| 14 kW | $2.82 | $27,660 | $58,815 | 8.0 years |
| 16 kW | $2.76 | $30,952 | $67,875 | 7.8 years |
| 18 kW | $2.70 | $34,080 | $77,100 | 7.7 years |
| 20 kW | $2.65 | $37,044 | $86,490 | 7.5 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Before you sign a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Norwell, MA Solar Cost FAQs
What is the average cost of installing solar panels in Norwell?
The average cost of solar panels in Norwell is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Norwell?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.