Solar Panel Cost Guide in Saugus, MA (Mar 2023)
- Saugus Solar Installation Cost: $8,746
- 25-Year Savings: $15,391
- Payback Period: 9.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Saugus
Find out what the average cost of a solar system is in Saugus.
The average cost of a solar panel system in Saugus is 2.94 per watt. The average Saugus homeowner needs a 4.2-kilowatt system, which would cost about $8,746 with the federal tax credit, or $12,507 before the 30% tax credit is applied.
These figures are just estimates, and the cost of going solar for you may differ based on your energy needs and what company you want to go with. But, once you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $22,000 over 20 years on electricity bills.
To get a free estimate from a top solar installation company in Saugus, you can click the button below.
Solar savings over time in Saugus
| Year | Return on Investment |
|---|---|
| 1 years | $-7,781 |
| 3 years | $-5,850 |
| 5 years | $-3,919 |
| 7 years | $-1,988 |
| 9 years | $-57 |
| 11 years | $1,874 |
| 13 years | $3,805 |
| 15 years | $5,736 |
| 17 years | $7,667 |
| 19 years | $9,598 |
| 21 years | $11,529 |
| 23 years | $13,460 |
| 25 years | $15,391 |
Top Solar Installers in Saugus
When going solar, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a challenging project. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what brand of solar equipment would be right for your home.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Saugus
Factors that Affect Solar Panel Costs in Saugus
There are a number of factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Saugus, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Saugus to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Saugus are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $21,247 | 9.4 years |
| 8 kW | $3.00 | $16,793 | $28,659 | 9.2 years |
| 10 kW | $2.94 | $20,580 | $36,235 | 9.1 years |
| 12 kW | $2.88 | $24,202 | $43,976 | 8.9 years |
| 14 kW | $2.82 | $27,660 | $51,881 | 8.7 years |
| 16 kW | $2.76 | $30,952 | $59,952 | 8.5 years |
| 18 kW | $2.70 | $34,080 | $68,187 | 8.3 years |
| 20 kW | $2.65 | $37,044 | $76,586 | 8.2 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Saugus, MA Solar Cost FAQs
What is the average cost of installing solar panels in Saugus?
The average cost of solar panels in Saugus 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 kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Saugus?
Solar panels aren't free in Saugus, 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 you can take advantage of.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Saugus, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 install 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.