Solar Panel Cost Guide in Tewksbury, MA (2023 Update)
- Tewksbury Solar Installation Cost: $9,179
- 25-Year Savings: $16,715
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tewksbury
We go over average solar pricing in Tewksbury.
While the national average of solar panels is $2.66 per watt, solar panels in Tewksbury generally cost about 2.94. The average Tewksbury homeowner needs a 4.5-kilowatt system, which would cost about $9,179 with the federal tax credit, or $13,126 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. 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 electricity bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Tewksbury, you can click the button below.
Solar savings over time in Tewksbury
| Year | Return on Investment |
|---|---|
| 1 years | $-8,143 |
| 3 years | $-6,071 |
| 5 years | $-4,000 |
| 7 years | $-1,929 |
| 9 years | $143 |
| 11 years | $2,214 |
| 13 years | $4,286 |
| 15 years | $6,357 |
| 17 years | $8,429 |
| 19 years | $10,500 |
| 21 years | $12,572 |
| 23 years | $14,643 |
| 25 years | $16,715 |
Top Solar Installers in Tewksbury
Although you can install solar panels on your own, it takes extra effort and expertise. For that reason, most homeowners choose to hire a solar panel installer. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for your family.
If you're on the hunt for a solar installer in Tewksbury, we've 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
See all of the solar companies in Tewksbury
Factors that Affect Solar Panel Costs in Tewksbury
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. The model 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. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect how much you pay. Tewksbury's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $21,996 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,657 | 9.0 years |
| 10 kW | $2.94 | $20,580 | $37,483 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,474 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,629 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,949 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,434 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $79,083 | 8.0 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- 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 considerable role in the company you choose.
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 Tewksbury, MA Solar Cost FAQs
How much does it cost to install solar panels in Tewksbury?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Tewksbury?
Solar panels aren't free in Tewksbury, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Tewksbury, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.