Solar Panel Cost Guide in Salem, MA (2024 Update)

  • Salem Solar Installation Cost: $12,074
  • 25-Year Savings: $15,201
  • Payback Period: 12.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Salem

Let’s have a look at the average cost of solar in Salem.

The average cost of a solar panel system in Salem is 4 per watt.The average solar panel system size in Salem is around 4.2 kilowatts, meaning a cost of about $12,074 for a solar installation, or $17,266 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.Despite the high initial cost, the average Salem homeowner can save about $21,000 on their energy bills over 20 years, which is one of the benefits of solar.

To receive a free estimate from a vetted solar installation company in Salem, you can click the button below.

Solar savings over time in Salem

Year Return on Investment
1 years $-10,351
3 years $-6,904
5 years $-3,457
7 years $-10
9 years $3,437
11 years $6,884
13 years $10,331
15 years $13,777
17 years $17,224
19 years $20,671
21 years $24,118
23 years $27,565
25 years $31,012

Top Solar Installers in Salem

Installing solar panels yourself can be a time-consuming task, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you aren’t sure what kind of solar equipment you need.

If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Salem:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Salem

Factors that Affect Solar Panel Costs in Salem

There are a number of criteria that can affect your solar panel 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 size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Salem, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar installers in Salem provide solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your total costs, so it’s crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.

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 $16,081 13.1 years
8 kW $4.14 $23,191 $21,896 12.9 years
10 kW $4.06 $28,420 $27,939 12.6 years
12 kW $3.98 $33,422 $34,209 12.4 years
14 kW $3.90 $38,196 $40,706 12.1 years
16 kW $3.82 $42,744 $47,431 11.9 years
18 kW $3.74 $47,064 $54,382 11.6 years
20 kW $3.65 $51,156 $61,562 11.3 years

How to Save on Solar Panels

Since the model of solar panels and the installation company you choose has an impact on 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:

  • Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
  • Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
  • Reputation: Companies that have been in business for many years likely have a high 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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Salem, MA Solar Cost FAQs

How much does it cost to install solar panels in Salem?

This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

What other factors should I consider aside from cost when buying solar panels?

The upfront cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Can solar panels eliminate my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,127.18 per year.

How long do solar panels last in Salem?

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.

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