Solar Panel Cost Guide in Reading, MA (2023 Update)
- Reading Solar Installation Cost: $9,179
- 25-Year Savings: $15,031
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Reading
We go over average solar pricing in Reading.
Although the national average of solar panels is $2.66 per watt, solar panels in Reading typically cost around 2.94. The average Reading homeowner needs a 4.5-kilowatt system, which would cost about $9,179 with the federal tax credit, or $13,126 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Reading homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Reading can save around $21,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a personalized estimate.
Solar savings over time in Reading
| Year | Return on Investment |
|---|---|
| 1 years | $-8,210 |
| 3 years | $-6,274 |
| 5 years | $-4,337 |
| 7 years | $-2,400 |
| 9 years | $-463 |
| 11 years | $1,473 |
| 13 years | $3,410 |
| 15 years | $5,347 |
| 17 years | $7,284 |
| 19 years | $9,220 |
| 21 years | $11,157 |
| 23 years | $13,094 |
| 25 years | $15,031 |
Top Solar Installers in Reading
Installing solar panels yourself can be a difficult task, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar company to go with, here are our suggestions for providers in Reading:
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 Reading
Factors that Affect Solar Panel Costs in Reading
There are many factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. The type of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Reading have solar loans, which reduce the initial cost of installing a solar system. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Reading is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services at different price points. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, 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 | $19,731 | 9.9 years |
| 8 kW | $3.00 | $16,793 | $26,637 | 9.7 years |
| 10 kW | $2.94 | $20,580 | $33,708 | 9.5 years |
| 12 kW | $2.88 | $24,202 | $40,943 | 9.3 years |
| 14 kW | $2.82 | $27,660 | $48,343 | 9.1 years |
| 16 kW | $2.76 | $30,952 | $55,908 | 8.9 years |
| 18 kW | $2.70 | $34,080 | $63,637 | 8.7 years |
| 20 kW | $2.65 | $37,044 | $71,531 | 8.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- 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 solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
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 Reading, MA Solar Cost FAQs
How much does it cost to install solar panels in Reading?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
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'd prefer to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Reading is currently $562,800, which means you can look forward to a value of about $23,075 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Reading is a rewarding investment.
How long do solar panels last in Reading?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.