Solar Panel Cost Guide in Waltham, MA (2023 Update)
- Waltham Solar Installation Cost: $9,178
- 25-Year Savings: $17,546
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waltham
Find out what the average cost of solar panel installation is in Waltham.
While the national average of solar panels is $2.66 per watt, solar panels in Waltham generally cost around 2.94. Since a 4.5-kW system is needed to cover the energy consumption of a typical home in Waltham, the average price of going solar will be about $9,179 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and your own solar costs will most likely look different based on factors unique to your home and what company you go with. With average savings of about $23,000 on energy bills over 20 years, many homeowners in Waltham find installing solar panels can be quite rewarding.
Click the button below to get connected to a top solar installer in your area for a customized estimate.
Solar savings over time in Waltham
| Year | Return on Investment |
|---|---|
| 1 years | $-9,088 |
| 3 years | $-8,910 |
| 5 years | $-8,732 |
| 7 years | $-8,554 |
| 9 years | $-8,376 |
| 11 years | $-8,198 |
| 13 years | $-8,019 |
| 15 years | $-7,841 |
| 17 years | $-7,663 |
| 19 years | $-7,485 |
| 21 years | $-7,307 |
| 23 years | $-7,129 |
| 25 years | $-6,951 |
Top Solar Installers in Waltham
Many homeowners opt for a solar panel company since trying to put up solar panels yourself can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some 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 Waltham
Factors that Affect Solar Panel Costs in Waltham
There are many factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,940. The brand of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Waltham homeowners decide to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your overall costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Waltham, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally have lower costs, but some local companies keep up with 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 | $23,114 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,147 | 8.8 years |
| 10 kW | $2.94 | $20,580 | $39,346 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,709 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,236 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $64,929 | 8.1 years |
| 18 kW | $2.70 | $34,080 | $73,786 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $82,807 | 7.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand 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 offerings before deciding.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Waltham, MA Solar Cost FAQs
How much does it cost to install solar panels in Waltham?
The average cost of solar panels in Waltham 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 use.
Should I lease or buy solar panels in Waltham?
Leasing solar panels can be an attractive choice, as it typically 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.
Can you sell solar power back to the grid in Waltham?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces 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 Waltham?
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.