Solar Panel Cost Guide in Oak Bluffs, MA (Sep 2022)

  • Oak Bluffs Solar Installation Cost: $8,397
  • 25-Year Savings: $17,707
  • Payback Period: 8.0 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 Oak Bluffs

Let's take a look at the average cost of solar in Oak Bluffs.

While the national average of solar panels is $2.66 per watt, solar panels in Oak Bluffs generally cost around $3. Since a 4.1-kW system is needed to cover the energy costs of a typical home in Oak Bluffs, the average price of going solar will be about $8,397 before claiming the federal solar tax credit of 30%.

These figures are only estimates, and your own solar costs will differ based on your specific situation and what company you go with. But, once you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $24,000 over 20 years on energy bills.

You can click the button below to get connected with a pre-vetted solar company in Oak Bluffs that can help you get a more accurate cost estimate for your home.

Solar savings over time in Oak Bluffs

Year Return on Investment
1 years $-7,353
3 years $-5,264
5 years $-3,176
7 years $-1,088
9 years $1,001
11 years $3,089
13 years $5,177
15 years $7,265
17 years $9,354
19 years $11,442
21 years $13,530
23 years $15,618
25 years $17,707

Top Solar Installers in Oak Bluffs

Although it's possible to install solar panels by yourself, it requires extra labor and knowledge. Because of that, most people choose a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy consumption, but working with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.

There are a number of 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 Oak Bluffs

Factors that Affect Solar Panel Costs in Oak Bluffs

The cost of installing a solar system in Oak Bluffs can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment Size

Size is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Oak Bluffs, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.

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 Oak Bluffs is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets. Additionally, some companies in Oak Bluffs are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 $25,571 8.4 years
8 kW $3.00 $16,793 $34,424 8.2 years
10 kW $2.94 $20,580 $43,442 8.0 years
12 kW $2.88 $24,202 $52,625 7.9 years
14 kW $2.82 $27,660 $61,972 7.7 years
16 kW $2.76 $30,952 $71,483 7.6 years
18 kW $2.70 $34,080 $81,160 7.4 years
20 kW $2.65 $37,044 $91,000 7.2 years

Solar Incentives in Oak Bluffs

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 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 numerous companies available in Oak Bluffs, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:

  • Warranty: If you're concerned about the longevity of your solar system, checking your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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 satisfied reviews from past customers.
  • Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
  • Contract: Before signing a contract with a solar installer, be 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 component breaks or malfunctions and what services you can expect from them.

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 Oak Bluffs, MA Solar Cost FAQs

How much does it cost to install solar panels in Oak Bluffs?

The average cost of solar panels in Oak Bluffs 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Oak Bluffs?

Leasing solar panels can be an appealing choice, as 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.

How will solar panels impact my home value?

Solar panels can increase your home value considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How long do solar panels last in Oak Bluffs?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.

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