Solar Panel Cost Guide in Springfield, MA (2024 Update)
- Springfield Solar Installation Cost: $12,716
- 25-Year Savings: $14,880
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Springfield
Find out what the average cost of solar panel installation is in Springfield.
In Springfield, solar panels cost about 4 per watt on average.The average solar panel system size in Springfield is around 4.5 kilowatts, meaning a cost of about $12,716 for a solar installation, or $18,184 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Springfield depending on a few factors, such as the model of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $20,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in your area for a custom estimate.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,198 |
| 3 years | $-8,162 |
| 5 years | $-5,127 |
| 7 years | $-2,092 |
| 9 years | $944 |
| 11 years | $3,979 |
| 13 years | $7,015 |
| 15 years | $10,050 |
| 17 years | $13,085 |
| 19 years | $16,121 |
| 21 years | $19,156 |
| 23 years | $22,192 |
| 25 years | $25,227 |
Top Solar Installers in Springfield
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar panel installer can make switching to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're on the hunt for a solar company in Springfield, the EcoWatch team has compiled a list of our top suggestions here:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
For many Springfield homeowners, the decision to install solar panels depends on 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 numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. The type of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
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 Springfield homeowners choose to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fits within your budget.
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 | $14,568 | 13.7 years |
| 8 kW | $4.14 | $23,191 | $19,878 | 13.5 years |
| 10 kW | $4.06 | $28,420 | $25,416 | 13.2 years |
| 12 kW | $3.98 | $33,422 | $31,182 | 12.9 years |
| 14 kW | $3.90 | $38,196 | $37,175 | 12.7 years |
| 16 kW | $3.82 | $42,744 | $43,395 | 12.4 years |
| 18 kW | $3.74 | $47,064 | $49,842 | 12.1 years |
| 20 kW | $3.65 | $51,156 | $56,517 | 11.9 years |
How to Save on Solar Panels
There are a lot of companies available in Springfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
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 Springfield, MA Solar Cost FAQs
How much does it cost to install solar panels in Springfield?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Springfield is currently $265,192, which means you can look forward to a value of about $10,873 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Springfield is a fruitful investment.
How often do you have to replace solar panels?
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 how much energy they produce will have decreased significantly after that point. You can decide 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.