Solar Panel Cost Guide in Wayland, MA (2023 Update)
- Wayland Solar Installation Cost: $9,178
- 25-Year Savings: $15,708
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wayland
Find out what the average cost of installing solar panels is in Wayland.
The national average cost of solar panels is $2.66 per watt, but in Wayland it's 2.94 per watt. The average Wayland 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 true cost of your system can be above or below the average in Wayland depending on several factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $21,000 on energy bills over 20 years, many homeowners in Wayland find going solar can be quite rewarding.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Wayland
| Year | Return on Investment |
|---|---|
| 1 years | $-9,095 |
| 3 years | $-8,929 |
| 5 years | $-8,763 |
| 7 years | $-8,597 |
| 9 years | $-8,431 |
| 11 years | $-8,265 |
| 13 years | $-8,099 |
| 15 years | $-7,933 |
| 17 years | $-7,767 |
| 19 years | $-7,601 |
| 21 years | $-7,436 |
| 23 years | $-7,270 |
| 25 years | $-7,104 |
Top Solar Installers in Wayland
When switching to solar energy, many homeowners decide to go with a solar installer since handling can be a time-consuming project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you'd like to switch to solar energy but still aren't certain which solar company 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 Wayland
Factors that Affect Solar Panel Costs in Wayland
There are many factors that can affect your 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
When it comes to estimating the price of solar panels in Wayland, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Wayland average.
Solar Financing Terms
Many homeowners find the average cost of solar in Wayland to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. It's a good idea to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Wayland is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $20,640 | 9.6 years |
| 8 kW | $3.00 | $16,793 | $27,849 | 9.4 years |
| 10 kW | $2.94 | $20,580 | $35,223 | 9.2 years |
| 12 kW | $2.88 | $24,202 | $42,762 | 9.0 years |
| 14 kW | $2.82 | $27,660 | $50,465 | 8.9 years |
| 16 kW | $2.76 | $30,952 | $58,333 | 8.7 years |
| 18 kW | $2.70 | $34,080 | $66,365 | 8.5 years |
| 20 kW | $2.65 | $37,044 | $74,562 | 8.3 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 decide on the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two 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 positive reviews from past customers.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: Make sure you're on the same page with the installer 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.
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 Wayland, MA Solar Cost FAQs
How much does it cost to install solar panels in Wayland?
This is a tough question to answer exactly, 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go 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 often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.