Solar Panel Cost Guide in Southborough, MA (2023 Update)
- Southborough Solar Installation Cost: $9,220
- 25-Year Savings: $16,794
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Southborough
Find out what the average cost of a solar system is in Southborough.
The average cost of a solar panel system in Southborough is 2.94 per watt. The average Southborough homeowner needs a 4.5-kilowatt system, which would cost about $9,220 with the federal tax credit, or $13,185 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Southborough homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar power is worth paying. On average Southborough homeowners see about $22,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Southborough
| Year | Return on Investment |
|---|---|
| 1 years | $-8,179 |
| 3 years | $-6,098 |
| 5 years | $-4,017 |
| 7 years | $-1,936 |
| 9 years | $145 |
| 11 years | $2,226 |
| 13 years | $4,307 |
| 15 years | $6,388 |
| 17 years | $8,470 |
| 19 years | $10,551 |
| 21 years | $12,632 |
| 23 years | $14,713 |
| 25 years | $16,794 |
Top Solar Installers in Southborough
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using an installer can make your swap to solar power much easier. Another perk of going with a solar company is that they can help you make the most of your investment by reducing your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Southborough
Factors that Affect Solar Panel Costs in Southborough
Cost is typically 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 Southborough: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,940 per kilowatt in Southborough. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Southborough, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make adopting solar energy more accessible for Southborough homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Southborough is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different price points. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $22,015 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,682 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,515 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,511 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,673 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,999 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,490 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $79,145 | 8.0 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 models 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 have various brands and models of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
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 Southborough, MA Solar Cost FAQs
How much does it cost to install solar panels in Southborough?
This is a tough question to answer precisely, 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Southborough?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Southborough have a net metering program?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Southborough?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.