Solar Panel Cost Guide in Wakefield, MA (2025 Update)
- Wakefield Solar Installation Cost: $12,674
- 25-Year Savings: $15,134
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Wakefield
We go over average solar pricing in Wakefield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wakefield, the average cost of a solar system is 4 per watt.Using this figure, a typical 4.5-kW system would cost about $12,674 before the 0 federal solar tax credit is applied.
These figures are only averages, and your own solar costs will differ based on factors unique to your home and what company you go with.But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Wakefield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-7,503 |
| 5 years | $-4,057 |
| 7 years | $-610 |
| 9 years | $2,837 |
| 11 years | $6,284 |
| 13 years | $9,731 |
| 15 years | $13,178 |
| 17 years | $16,625 |
| 19 years | $20,072 |
| 21 years | $23,518 |
| 23 years | $26,965 |
| 25 years | $30,412 |
Top Solar Installers in Wakefield
Many homeowners opt for a solar panel installer since installing solar panels yourself can be time-consuming. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Wakefield
Factors that Affect Solar Panel Costs in Wakefield
There are a number of 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 adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $4,060 per kilowatt in Wakefield.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Wakefield, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Wakefield have solar loans, which reduce your upfront costs of installing solar.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect how much you pay. Wakefield’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Wakefield know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $14,976 | 13.6 years |
| 8 kW | $4.14 | $23,191 | $20,423 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $26,097 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $31,998 | 12.8 years |
| 14 kW | $3.90 | $38,196 | $38,127 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,483 | 12.3 years |
| 18 kW | $3.74 | $47,064 | $51,067 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $57,878 | 11.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The kind of solar panel you’d like to get plays a role in which installer you should go with, since different companies have access to different panels.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Your solar installer should have a good 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 previous customers.
EcoWatch's Wakefield, MA Solar Cost FAQs
How much does it cost to install solar panels in Wakefield?
The average cost of solar panels in Wakefield is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like 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 Wakefield?
Leasing solar panels can be an attractive choice, because it often 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 option if you want to get the most savings.
How will having solar panels impact the value of my home?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Wakefield?
On average, solar panels can last 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.