Solar Panel Cost Guide in Stoneham, MA (2024 Update)
- Stoneham Solar Installation Cost: $12,674
- 25-Year Savings: $16,443
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Stoneham
We break down average solar pricing in Stoneham.
Although the national average of solar panels is $2.66 per watt, solar panels in Stoneham typically cost around 4.The average Stoneham homeowner needs a 4.5-kilowatt system, which would cost about $12,674 with the federal tax credit, or $18,124 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will vary based on your energy needs and what company you want to go with.Despite the significant upfront cost, the average Stoneham homeowner can save around $22,000 on their power bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a pre-vetted solar installer in Stoneham for a quote for your home.
Solar savings over time in Stoneham
| Year | Return on Investment |
|---|---|
| 1 years | $-11,011 |
| 3 years | $-7,687 |
| 5 years | $-4,362 |
| 7 years | $-1,037 |
| 9 years | $2,288 |
| 11 years | $5,612 |
| 13 years | $8,937 |
| 15 years | $12,262 |
| 17 years | $15,587 |
| 19 years | $18,911 |
| 21 years | $22,236 |
| 23 years | $25,561 |
| 25 years | $28,886 |
Top Solar Installers in Stoneham
Many homeowners choose to use a solar installation company since trying to put up solar panels yourself can be time-consuming. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over time.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
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
See all of the solar companies in Stoneham
Factors that Affect Solar Panel Costs in Stoneham
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Stoneham: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Stoneham, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The brand and type 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Stoneham, and each can charge varying amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $4.22 | $17,734 | $16,738 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,772 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,033 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,522 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,238 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,181 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,352 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,750 | 11.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should go with, since different companies have access to different panels.
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
EcoWatch's Stoneham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Stoneham?
This is a hard question to answer precisely, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial 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 consider are the quality and durability of your solar panels.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,149.06 per year.
How long do solar panels last in Stoneham?
Even 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 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.