Solar Panel Cost Guide in Spencer, MA (2025 Update)
- Spencer Solar Installation Cost: $12,726
- 25-Year Savings: $16,709
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Spencer
We go over average solar pricing in Spencer.
In Spencer, solar panels cost about 4 per watt on average.The average solar panel system size in Spencer is around 4.5 kilowatts, meaning a cost of about $12,726 for a solar installation, or $18,198 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy consumption and what company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $22,000 over 20 years on power bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Spencer
| 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 Spencer
Many homeowners decide to hire a solar panel company since figuring out how to install solar panels yourself can be time-consuming. Some solar companies, particularly local ones, can help you take advantage of incentives in Spencer, thereby optimizing your ROI.
If you're searching for a solar company in Spencer, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Spencer
Factors that Affect Solar Panel Costs in Spencer
Though the average cost of a solar system in Spencer is $12,726, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Spencer homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your total costs, so it’s important to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect your pricing. Spencer’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Spencer know more about local solar incentives and can help you make good use of 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 help you save 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 | $17,003 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,125 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,475 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $36,052 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,856 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,888 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,147 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,634 | 11.0 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Spencer, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Spencer, MA Solar Cost FAQs
How much does it cost to install solar panels in Spencer?
The average cost of solar panels in Spencer is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Spencer?
Leasing solar panels can be an attractive choice, because 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.
Does Spencer have a net metering program?
The majority of states offer 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 Spencer?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having 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.