Solar Panel Cost Guide in Norwood, MA (Mar 2023)
- Norwood Solar Installation Cost: $9,076
- 25-Year Savings: $16,358
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Norwood
Find out what the average cost of installing solar panels is in Norwood.
The average cost of a solar panel system in Norwood is 2.94 per watt. To cover the typical energy needs of the average home in Norwood, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,076, or $12,979 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $22,000 in savings on electricity bills over 20 years.
To get a free estimate from a vetted solar installation company in Norwood, you can click the button below.
Solar savings over time in Norwood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,058 |
| 3 years | $-6,024 |
| 5 years | $-3,989 |
| 7 years | $-1,954 |
| 9 years | $80 |
| 11 years | $2,115 |
| 13 years | $4,150 |
| 15 years | $6,184 |
| 17 years | $8,219 |
| 19 years | $10,254 |
| 21 years | $12,289 |
| 23 years | $14,323 |
| 25 years | $16,358 |
Top Solar Installers in Norwood
When making the switch to solar, many homeowners prefer to hire a solar installer since DIY solar panel installation can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your home.
Working with a professional solar installer can make going solar easier. 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
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 Norwood
Factors that Affect Solar Panel Costs in Norwood
For many Norwood homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Norwood, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,940 per kilowatt in Norwood. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking 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 Norwood 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 greatly decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only 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 APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact how much it costs. Norwood's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Norwood have more knowledge about local solar incentives and can help you learn about 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 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 | $21,772 | 9.3 years |
| 8 kW | $3.00 | $16,793 | $29,359 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,110 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,026 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,107 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $61,352 | 8.4 years |
| 18 kW | $2.70 | $34,080 | $69,762 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,336 | 8.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you know you want a specific brand, make sure the solar company 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
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 Norwood, MA Solar Cost FAQs
How much does it cost to install solar panels in Norwood?
The average cost of solar panels in Norwood 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Norwood?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels completely eradicate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Norwood, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Norwood?
Even though 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 their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.