Solar Panel Cost Guide in Townsend, MA (2023 Update)
- Townsend Solar Installation Cost: $9,179
- 25-Year Savings: $19,080
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Townsend
Here's how much it might cost to switch to solar power in Townsend.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Townsend, the typical cost of a solar system is 2.94 per watt. Using this figure, a typical 4.5-kW system would cost about $9,179 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Townsend homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the high upfront cost, the average Townsend homeowner can save around $24,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a highly rated solar installer in Townsend for a custom quote.
Solar savings over time in Townsend
| Year | Return on Investment |
|---|---|
| 1 years | $-8,048 |
| 3 years | $-5,788 |
| 5 years | $-3,527 |
| 7 years | $-1,266 |
| 9 years | $994 |
| 11 years | $3,255 |
| 13 years | $5,516 |
| 15 years | $7,776 |
| 17 years | $10,037 |
| 19 years | $12,298 |
| 21 years | $14,558 |
| 23 years | $16,819 |
| 25 years | $19,080 |
Top Solar Installers in Townsend
Many homeowners opt for a solar installation company since installing solar panels by yourself can be time-consuming. Another advantage of utilizing a solar installer is that they can help you make the most of your investment by lowering your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Townsend
Factors that Affect Solar Panel Costs in Townsend
While the average cost of a solar system in Townsend is $9,179, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar system you need to offset your energy usage, 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 $2,940. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Townsend, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Townsend homeowners opt to finance their solar panel systems to make going solar more affordable. 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 can only 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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Townsend, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $25,179 | 8.4 years |
| 8 kW | $3.00 | $16,793 | $33,901 | 8.3 years |
| 10 kW | $2.94 | $20,580 | $42,788 | 8.1 years |
| 12 kW | $2.88 | $24,202 | $51,839 | 8.0 years |
| 14 kW | $2.82 | $27,660 | $61,055 | 7.8 years |
| 16 kW | $2.76 | $30,952 | $70,436 | 7.6 years |
| 18 kW | $2.70 | $34,080 | $79,981 | 7.5 years |
| 20 kW | $2.65 | $37,044 | $89,691 | 7.3 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 select the right company for you, here are some tips to keep in mind:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
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 Townsend, MA Solar Cost FAQs
How much does it cost to install solar panels in Townsend?
The average cost of solar panels in Townsend 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 things like the model 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 Townsend?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Townsend, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of 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.