Solar Panel Cost Guide in Reading, MA (2024 Update)
- Reading Solar Installation Cost: $12,674
- 25-Year Savings: $15,032
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Reading
Let’s take a look at the average cost of solar panels in Reading.
Although the national average of solar panels is $2.66 per watt, solar panels in Reading generally cost about 4.Using this figure, a typical 4.5-kW system would cost about $12,674 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Reading depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Despite the large upfront cost, the average Reading homeowner can save about $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Reading
| Year | Return on Investment |
|---|---|
| 1 years | $-11,072 |
| 3 years | $-7,870 |
| 5 years | $-4,667 |
| 7 years | $-1,465 |
| 9 years | $1,738 |
| 11 years | $4,941 |
| 13 years | $8,143 |
| 15 years | $11,346 |
| 17 years | $14,549 |
| 19 years | $17,751 |
| 21 years | $20,954 |
| 23 years | $24,156 |
| 25 years | $27,359 |
Top Solar Installers in Reading
Putting up solar panels yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
If you're searching for a solar company in Reading, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Reading
Factors that Affect Solar Panel Costs in Reading
There are several 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 system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Reading provide solar loans, which reduce the initial cost of installing solar panels.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Reading, and each can charge varying amounts for labor and equipment.Additionally, some companies in Reading know more about local solar incentives and can help you take advantage 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 | $4.22 | $17,734 | $14,838 | 13.6 years |
| 8 kW | $4.14 | $23,191 | $20,239 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $25,868 | 13.1 years |
| 12 kW | $3.98 | $33,422 | $31,723 | 12.8 years |
| 14 kW | $3.90 | $38,196 | $37,806 | 12.6 years |
| 16 kW | $3.82 | $42,744 | $44,116 | 12.3 years |
| 18 kW | $3.74 | $47,064 | $50,654 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $57,419 | 11.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose considerably affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Read the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Reading, MA Solar Cost FAQs
How much does it cost to install solar panels in Reading?
The average cost of solar panels in Reading 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Reading?
You can’t get solar panels for free in Reading. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Reading?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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.