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.
In Stoneham, solar panels cost about 4 per watt on average.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.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $22,000 in savings on energy bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
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 decide to hire a solar panel installer since trying to install solar panels by yourself can be a lot of work. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- 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
- 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
For many Stoneham homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Stoneham, with typical prices between $20,000 to $40,000. There are various factors that considerably 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 about $4,060. 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 panel companies operating throughout Stoneham, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- 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.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
Best National Provider
SunPower
- 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
- 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 tough question to answer exactly, 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. 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?
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 the amount of 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.
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.