Solar Panel Cost Guide in Wellesley, MA (2023 Update)
- Wellesley Solar Installation Cost: $9,073
- 25-Year Savings: $16,117
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wellesley
Find out what the average cost of a solar system is in Wellesley.
While the national average of solar panels is $2.66 per watt, solar panels in Wellesley generally cost about 2.94. The average Wellesley homeowner needs a 4.4-kilowatt system, which would cost about $9,076 with the federal tax credit, or $12,979 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Wellesley homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the large initial cost, the average Wellesley homeowner can save about $22,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wellesley
| Year | Return on Investment |
|---|---|
| 1 years | $-7,606 |
| 3 years | $-4,673 |
| 5 years | $-1,740 |
| 7 years | $1,193 |
| 9 years | $4,127 |
| 11 years | $7,060 |
| 13 years | $9,993 |
| 15 years | $12,926 |
| 17 years | $15,859 |
| 19 years | $18,793 |
| 21 years | $21,726 |
| 23 years | $24,659 |
| 25 years | $27,592 |
Top Solar Installers in Wellesley
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be challenging. Plus, if you're unsure what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Wellesley
Factors that Affect Solar Panel Costs in Wellesley
There are several criteria that can affect your total 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 cost of a solar energy system in Wellesley, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. There are several different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Wellesley offer solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Wellesley, and each can charge different amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $21,441 | 9.4 years |
| 8 kW | $3.00 | $16,793 | $28,917 | 9.2 years |
| 10 kW | $2.94 | $20,580 | $36,557 | 9.0 years |
| 12 kW | $2.88 | $24,202 | $44,363 | 8.8 years |
| 14 kW | $2.82 | $27,660 | $52,333 | 8.6 years |
| 16 kW | $2.76 | $30,952 | $60,467 | 8.5 years |
| 18 kW | $2.70 | $34,080 | $68,767 | 8.3 years |
| 20 kW | $2.65 | $37,044 | $77,231 | 8.1 years |
How to Save on Solar Panels
The solar installer you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project timeline rebates and warranties.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Wellesley, MA Solar Cost FAQs
How much does it cost to install solar panels in Wellesley?
This is a difficult question to answer precisely, because the cost depends on a few different 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 above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Wellesley?
Leasing solar panels can be an attractive choice, because 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 maximize your savings.
Does Wellesley have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.