Solar Panel Cost Guide in Revere, MA (2023 Update)
- Revere Solar Installation Cost: $9,043
- 25-Year Savings: $16,971
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Revere
Let's take a look at the average cost of solar in Revere.
The average cost of a solar system in Revere is 2.94 per watt. The average solar panel system size in Revere is around 4.4 kilowatts, meaning a cost of about $9,035 for a solar installation, or $12,920 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Revere based on several factors, such as the model of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Revere
| Year | Return on Investment |
|---|---|
| 1 years | $-7,319 |
| 3 years | $-3,872 |
| 5 years | $-425 |
| 7 years | $3,021 |
| 9 years | $6,468 |
| 11 years | $9,915 |
| 13 years | $13,362 |
| 15 years | $16,809 |
| 17 years | $20,256 |
| 19 years | $23,703 |
| 21 years | $27,149 |
| 23 years | $30,596 |
| 25 years | $34,043 |
Top Solar Installers in Revere
Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. Another perk of working with a solar installer is that they can help you maximize your return of investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you're looking for a solar installer in Revere, the EcoWatch team has put together a list of our top suggestions here:
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 Revere
Factors that Affect Solar Panel Costs in Revere
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Revere: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Revere, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,940 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Revere to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's a good idea 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 back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Revere is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs. Additionally, some companies in Revere have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $22,680 | 9.0 years |
| 8 kW | $3.00 | $16,793 | $30,570 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,624 | 8.7 years |
| 12 kW | $2.88 | $24,202 | $46,843 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $55,226 | 8.3 years |
| 16 kW | $2.76 | $30,952 | $63,774 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $72,486 | 8.0 years |
| 20 kW | $2.65 | $37,044 | $81,364 | 7.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Warranty: If you're concerned about the endurance of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
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 Revere, MA Solar Cost FAQs
What is the average cost of installing solar panels in Revere?
The average cost of solar panels in Revere 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 things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Revere?
Solar panels aren't free in Revere, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,184.08 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.