Solar Panel Cost Guide in Stoneham, MA (Oct 2022)

  • Stoneham Solar Installation Cost: $9,179
  • 25-Year Savings: $16,442
  • Payback Period: 9.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Stoneham

Here's how much it might cost to make the switch to solar in Stoneham.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Stoneham, the typical cost of solar panels is $3 per watt. To cover the typical energy usage of the average home in Stoneham, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,179, or $6,792 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what company you go with. Even with the high upfront cost, the average Stoneham homeowner can save around $22,000 on their energy bills over 20 years, which is one of the advantages of solar.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Stoneham

Year Return on Investment
1 years $-8,154
3 years $-6,104
5 years $-4,054
7 years $-2,005
9 years $45
11 years $2,095
13 years $4,144
15 years $6,194
17 years $8,244
19 years $10,293
21 years $12,343
23 years $14,393
25 years $16,442

Top Solar Installers in Stoneham

Although it's possible to install solar panels yourself, it takes extra effort and know-how. That's one of the reasons most homeowners choose to hire a solar panel installer. Plus, if you're unsure what brand of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.

There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Stoneham

Factors that Affect Solar Panel Costs in Stoneham

Though the average cost of solar panels in Stoneham is $9,179, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

The size of the solar system you need for your home is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,940. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 raise the cost.

Solar Financing Terms

If paying for solar panels out of pocket is out of reach, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make switching to solar energy more accessible for Stoneham homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar installation company you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you want 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 $3.06 $12,842 $21,630 9.3 years
8 kW $3.00 $16,793 $29,169 9.1 years
10 kW $2.94 $20,580 $36,873 9.0 years
12 kW $2.88 $24,202 $44,741 8.8 years
14 kW $2.82 $27,660 $52,775 8.6 years
16 kW $2.76 $30,952 $60,972 8.4 years
18 kW $2.70 $34,080 $69,335 8.2 years
20 kW $2.65 $37,044 $77,862 8.1 years

Solar Incentives in Stoneham

Name Residential Renewable Energy Income Tax Credit
Incentive Amount 15%
More Info Click here

Name Renewable Energy Equipment Sales Tax Exemption
Incentive Amount 100% exemption
Website Visit here
More Info Click here

Name Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)
Incentive Amount 100% deduction
More Info Click here

Name Renewable Energy Property Tax Exemption
Website Visit here
More Info Click here

Name Cape Light Compact- Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Mass Save - HEAT Loan Program
Website Visit here
More Info Click here

Name Solar Massachusetts Renewable Target (SMART) Program
Website Visit here
More Info Click here

Name Mass Solar Loan Program
Website Visit here
More Info Click here

Name Residential and Small-Scale Ground-Source Heat Pump Rebate Program
Website Visit here
More Info Click here

Name Commonwealth Woodstove Change-Out Program
Website Visit here
More Info Click here

Name MuniHELPS - Offered by 17 Utilities through the MMWEC
Incentive Amount Varies by utility
Website Visit here
More Info Click here

Name Local Option - Energy Revolving Loan Fund
More Info Click here

Name Solar Renewable Energy Certificates (SREC-II)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Warranty: Companies typically offer different kinds 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 well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
  • Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Stoneham, MA Solar Cost FAQs

How much does it cost to install solar panels in Stoneham?

The average cost of solar panels in Stoneham 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Stoneham?

Leasing solar panels can be an appealing choice, as it commonly 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 way to go if you want to get the most savings.

How much can I save on energy bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Stoneham, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a 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.

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