Solar Panel Cost Guide in Smith Mills, MA (2023 Update)
- Smith Mills Solar Installation Cost: $8,911
- 25-Year Savings: $17,103
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Smith Mills
Find out what the average cost of a solar system is in Smith Mills.
While the national average of solar panels is $2.66 per watt, solar panels in Smith Mills generally cost about 2.94. The average solar panel system size in Smith Mills is around 4.3 kilowatts, meaning a cost of about $8,911 for a solar installation, or $12,743 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $23,000 over 20 years on utility bills.
To receive a free estimate from a pre-vetted solar installer in Smith Mills, you can click the button below.
Solar savings over time in Smith Mills
| Year | Return on Investment |
|---|---|
| 1 years | $-7,871 |
| 3 years | $-5,789 |
| 5 years | $-3,708 |
| 7 years | $-1,627 |
| 9 years | $454 |
| 11 years | $2,535 |
| 13 years | $4,616 |
| 15 years | $6,697 |
| 17 years | $8,778 |
| 19 years | $10,859 |
| 21 years | $12,940 |
| 23 years | $15,022 |
| 25 years | $17,103 |
Top Solar Installers in Smith Mills
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with a solar company can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Smith Mills
Factors that Affect Solar Panel Costs in Smith Mills
Even though the average cost of a solar system in Smith Mills is $8,911, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Smith Mills, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Smith Mills homeowners choose to finance their solar panel systems to make going solar more affordable. 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 APR could reduce your costs significantly.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Smith Mills, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $23,216 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,284 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,516 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,914 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,475 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,202 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,093 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,149 | 7.7 years |
How to Save on Solar Panels
There are a large number of companies available in Smith Mills, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar installer, make sure to read it through completely 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 if there are any guarantees about energy production.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
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 Smith Mills, MA Solar Cost FAQs
How much does it cost to install solar panels in Smith Mills?
This is a tough question to answer precisely, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-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.
Can you get solar panels for free in Smith Mills?
Solar panels aren't free in Smith Mills, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 get between 20 and 35 panels to account for 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.