Solar Panel Cost Guide in Topsfield, MA (2023 Update)
- Topsfield Solar Installation Cost: $8,746
- 25-Year Savings: $15,728
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Topsfield
We go over average solar pricing in Topsfield.
The national average cost of solar panels is $2.66 per watt, but in Topsfield it's 2.94 per watt. The average Topsfield homeowner needs a 4.2-kilowatt system, which would cost about $8,746 with the federal tax credit, or $12,507 before the 30% tax credit is applied.
These figures are only estimates, and your own solar costs may look different based on your specific situation and what company you choose to go with. Despite the significant upfront cost, the average Topsfield homeowner can save around $22,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a vetted solar panel company in your area for a customized quote.
Solar savings over time in Topsfield
| Year | Return on Investment |
|---|---|
| 1 years | $-7,768 |
| 3 years | $-5,810 |
| 5 years | $-3,852 |
| 7 years | $-1,894 |
| 9 years | $64 |
| 11 years | $2,022 |
| 13 years | $3,980 |
| 15 years | $5,938 |
| 17 years | $7,896 |
| 19 years | $9,854 |
| 21 years | $11,812 |
| 23 years | $13,770 |
| 25 years | $15,728 |
Top Solar Installers in Topsfield
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with an installer can make your swap to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our suggestions 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
See all of the solar companies in Topsfield
Factors that Affect Solar Panel Costs in Topsfield
For many Topsfield homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Topsfield, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Topsfield average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Topsfield homeowners decide to finance their solar panel systems to offset upfront costs. Though solar loans make going solar more accessible for Topsfield 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 solar company you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Topsfield, and each can charge varying amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have 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 | $3.06 | $12,842 | $21,723 | 9.3 years |
| 8 kW | $3.00 | $16,793 | $29,293 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,028 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $44,927 | 8.8 years |
| 14 kW | $2.82 | $27,660 | $52,992 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $61,220 | 8.4 years |
| 18 kW | $2.70 | $34,080 | $69,614 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,172 | 8.0 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Warranty: If you're worried about the endurance of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Topsfield, MA Solar Cost FAQs
How much does it cost to install solar panels in Topsfield?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Topsfield?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Does Topsfield have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Topsfield?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.