Solar Panel Cost Guide in Norwood, MA (2024 Update)
- Norwood Solar Installation Cost: $12,529
- 25-Year Savings: $16,361
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Norwood
See how much it might cost to switch to solar power in Norwood.
In Norwood, solar panels cost about 4 per watt on average.Using this figure, a typical 4.4-kW system would cost about $12,529 before the 0 federal solar tax credit is applied.
The actual price you pay can be above or below the average in Norwood depending on several factors, such as the type of solar panels you choose and the solar installer you hire.Despite the significant initial cost, the average Norwood homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Norwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,928 |
| 3 years | $-7,725 |
| 5 years | $-4,523 |
| 7 years | $-1,320 |
| 9 years | $1,882 |
| 11 years | $5,085 |
| 13 years | $8,288 |
| 15 years | $11,490 |
| 17 years | $14,693 |
| 19 years | $17,896 |
| 21 years | $21,098 |
| 23 years | $24,301 |
| 25 years | $27,503 |
Top Solar Installers in Norwood
Many homeowners choose to use a solar installer since installing solar panels yourself can be time-consuming. Another perk of using a solar company is that they can help you maximize your investment by bringing down your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
Working with a licensed solar company 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Norwood
Factors that Affect Solar Panel Costs in Norwood
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant 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 consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Norwood.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Norwood, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Norwood, which can lower, or in some cases 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 opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can play a part in determining how much it costs. Norwood’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Norwood know more about local solar incentives and can help you make good use 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 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 | $4.22 | $17,734 | $16,880 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $22,961 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,270 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $35,806 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,570 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,560 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,779 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,224 | 11.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: If you care about the longevity of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Norwood, MA Solar Cost FAQs
What is the average cost of installing solar panels in Norwood?
The average cost of solar panels in Norwood is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind 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 goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate 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 often do you have to replace solar panels?
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 higher 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.