Solar Panel Cost Guide in Springfield, MA (2023 Update)
- Springfield Solar Installation Cost: $9,199
- 25-Year Savings: $14,888
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Springfield
Let's take a look at the average cost of solar panels in Springfield.
In Springfield, solar panels cost about 2.94 per watt on average. Since a 4.5-kW system is needed to cover the energy costs of a typical home in Springfield, the average price of going solar will be about $9,199 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Springfield homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $20,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar installer in your area for a customized quote.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-8,236 |
| 3 years | $-6,309 |
| 5 years | $-4,382 |
| 7 years | $-2,455 |
| 9 years | $-528 |
| 11 years | $1,399 |
| 13 years | $3,326 |
| 15 years | $5,253 |
| 17 years | $7,180 |
| 19 years | $9,107 |
| 21 years | $11,034 |
| 23 years | $12,961 |
| 25 years | $14,888 |
Top Solar Installers in Springfield
Although it's possible to install solar panels on your own, it takes extra energy and expertise. Because of that, almost all homeowners choose a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
For many Springfield homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Springfield, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,940. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $19,460 | 9.9 years |
| 8 kW | $3.00 | $16,793 | $26,276 | 9.7 years |
| 10 kW | $2.94 | $20,580 | $33,256 | 9.6 years |
| 12 kW | $2.88 | $24,202 | $40,402 | 9.4 years |
| 14 kW | $2.82 | $27,660 | $47,712 | 9.2 years |
| 16 kW | $2.76 | $30,952 | $55,186 | 9.0 years |
| 18 kW | $2.70 | $34,080 | $62,825 | 8.8 years |
| 20 kW | $2.65 | $37,044 | $70,629 | 8.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Springfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you're worried about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Springfield, MA Solar Cost FAQs
What is the average cost of installing solar panels in Springfield?
The average cost of solar panels in Springfield 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 consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Springfield, 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 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.