Solar Panel Cost Guide in Palmer Town, MA (2023 Update)
- Palmer Town Solar Installation Cost: $9,199
- 25-Year Savings: $16,394
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Palmer Town
Find out what the average cost of installing solar panels is in Palmer Town.
In Palmer Town, solar panels cost about 2.94 per watt on average. The average solar panel system size in Palmer Town is around 4.5 kilowatts, meaning a cost of about $9,199 for a solar installation, or $13,155 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will vary based on the amount of energy your home requires and what company you go with. With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Palmer Town find going solar can pay off big.
To receive a free quote from a highly rated solar company in Palmer Town, you can click the button below.
Solar savings over time in Palmer Town
| Year | Return on Investment |
|---|---|
| 1 years | $-8,176 |
| 3 years | $-6,128 |
| 5 years | $-4,081 |
| 7 years | $-2,033 |
| 9 years | $14 |
| 11 years | $2,062 |
| 13 years | $4,109 |
| 15 years | $6,157 |
| 17 years | $8,204 |
| 19 years | $10,252 |
| 21 years | $12,299 |
| 23 years | $14,347 |
| 25 years | $16,394 |
Top Solar Installers in Palmer Town
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make switching to solar power much easier. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Palmer Town
Factors that Affect Solar Panel Costs in Palmer Town
For many Palmer Town homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Palmer Town, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can play a role in determining your pricing. Palmer Town's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $21,480 | 9.4 years |
| 8 kW | $3.00 | $16,793 | $28,969 | 9.2 years |
| 10 kW | $2.94 | $20,580 | $36,623 | 9.0 years |
| 12 kW | $2.88 | $24,202 | $44,441 | 8.8 years |
| 14 kW | $2.82 | $27,660 | $52,424 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $60,572 | 8.5 years |
| 18 kW | $2.70 | $34,080 | $68,884 | 8.3 years |
| 20 kW | $2.65 | $37,044 | $77,361 | 8.1 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Contract: Before you sign a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar panel 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
EcoWatch's Palmer Town, MA Solar Cost FAQs
How much does it cost to install solar panels in Palmer Town?
The average cost of solar panels in Palmer Town 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 such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Palmer Town?
Leasing solar panels can be an option if you can't 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 property 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go 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 a solar system."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.