Solar Panel Cost Guide in Princeton, MA (2023 Update)
- Princeton Solar Installation Cost: $9,220
- 25-Year Savings: $15,257
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Princeton
Find out what the average cost of installing solar panels is in Princeton.
While the national average of solar panels is $2.66 per watt, solar panels in Princeton generally cost about 2.94. The average solar panel system size in Princeton is around 4.5 kilowatts, meaning a cost of about $9,220 for a solar installation, or $13,185 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will differ based on factors unique to your home and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Princeton can save around $21,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Princeton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,241 |
| 3 years | $-6,283 |
| 5 years | $-4,324 |
| 7 years | $-2,366 |
| 9 years | $-408 |
| 11 years | $1,550 |
| 13 years | $3,508 |
| 15 years | $5,466 |
| 17 years | $7,425 |
| 19 years | $9,383 |
| 21 years | $11,341 |
| 23 years | $13,299 |
| 25 years | $15,257 |
Top Solar Installers in Princeton
Although it's possible to install solar panels by yourself, it takes extra labor and know-how. Because of that, almost all homeowners choose to hire a solar panel installer. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Princeton
Factors that Affect Solar Panel Costs in Princeton
Even though the average cost of a solar system in Princeton is $9,220, your final cost may differ. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Princeton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $2,940 for each additional kilowatt you need. There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. 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
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Princeton, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $19,955 | 9.8 years |
| 8 kW | $3.00 | $16,793 | $26,937 | 9.6 years |
| 10 kW | $2.94 | $20,580 | $34,082 | 9.4 years |
| 12 kW | $2.88 | $24,202 | $41,393 | 9.2 years |
| 14 kW | $2.82 | $27,660 | $48,868 | 9.0 years |
| 16 kW | $2.76 | $30,952 | $56,507 | 8.8 years |
| 18 kW | $2.70 | $34,080 | $64,312 | 8.7 years |
| 20 kW | $2.65 | $37,044 | $72,281 | 8.5 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should opt for, since different companies have access to different panels.
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 Princeton, MA Solar Cost FAQs
How much does it cost to install solar panels in Princeton?
The average cost of solar panels in Princeton 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 type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Princeton?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of 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.
Is it worth going solar in Princeton?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.