Solar Panel Cost Guide in Southborough, MA (2024 Update)
- Southborough Solar Installation Cost: $12,726
- 25-Year Savings: $16,799
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Southborough
Find out what the average cost of solar panel installation is in Southborough.
While the national average of solar panels is $2.66 per watt, solar panels in Southborough generally cost about 4.To account for the typical energy needs of the average home in Southborough, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,726, or $18,198 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more.Despite the significant upfront cost, the average Southborough homeowner can save about $22,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar installer in Southborough for a quote for your home.
Solar savings over time in Southborough
| Year | Return on Investment |
|---|---|
| 1 years | $-11,002 |
| 3 years | $-7,556 |
| 5 years | $-4,109 |
| 7 years | $-662 |
| 9 years | $2,785 |
| 11 years | $6,232 |
| 13 years | $9,679 |
| 15 years | $13,126 |
| 17 years | $16,572 |
| 19 years | $20,019 |
| 21 years | $23,466 |
| 23 years | $26,913 |
| 25 years | $30,360 |
Top Solar Installers in Southborough
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Also, companies with a high reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t certain which solar installer to go with, here are our recommendations for providers in Southborough:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Southborough
Factors that Affect Solar Panel Costs in Southborough
The cost of installing a solar system in Southborough can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $4,060 per kilowatt in Southborough.The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Southborough to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect how much it costs. Southborough’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Southborough have more knowledge about local solar incentives and can help you learn about 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 | $4.22 | $17,734 | $17,123 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,285 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,675 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,292 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,136 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,208 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,507 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $65,033 | 11.0 years |
How to Save on Solar Panels
There are many companies to choose from in Southborough, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Southborough, MA Solar Cost FAQs
How much does it cost to install solar panels in Southborough?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Southborough?
Leasing solar panels can be an attractive choice, as it usually 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Southborough, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Southborough?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.