Solar Panel Cost Guide in Swampscott, MA (2023 Update)
- Swampscott Solar Installation Cost: $8,746
- 25-Year Savings: $16,789
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Swampscott
Find out what the average cost of installing solar panels is in Swampscott.
While the national average of solar panels is $2.66 per watt, solar panels in Swampscott typically cost about 2.94. The average solar panel system size in Swampscott is around 4.2 kilowatts, meaning a cost of about $8,746 for a solar installation, or $12,507 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Swampscott homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Swampscott see about $23,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Swampscott
| Year | Return on Investment |
|---|---|
| 1 years | $-7,725 |
| 3 years | $-5,682 |
| 5 years | $-3,639 |
| 7 years | $-1,597 |
| 9 years | $446 |
| 11 years | $2,489 |
| 13 years | $4,532 |
| 15 years | $6,575 |
| 17 years | $8,617 |
| 19 years | $10,660 |
| 21 years | $12,703 |
| 23 years | $14,746 |
| 25 years | $16,789 |
Top Solar Installers in Swampscott
Many homeowners decide to hire a solar panel installer since installing solar panels on your own can be time-consuming. Also, if you'd like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Swampscott
Factors that Affect Solar Panel Costs in Swampscott
There are many factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,940 per kilowatt in Swampscott. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only 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 out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Swampscott homeowners, they can also raise 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 last key cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Swampscott, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $23,221 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,290 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,525 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,923 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,487 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,215 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,108 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $83,165 | 7.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you're worried about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies have 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: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 Swampscott, MA Solar Cost FAQs
How much does it cost to install solar panels in Swampscott?
The average cost of solar panels in Swampscott 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Swampscott?
Leasing solar panels can be an appealing choice, as it typically 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is it worth going solar in Swampscott?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.