Solar Panel Cost Guide in Wellesley, MA (Mar 2023)
- Wellesley Solar Installation Cost: $9,076
- 25-Year Savings: $16,114
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wellesley
Find out what the average cost of installing solar panels is in Wellesley.
The average cost of solar panels in Wellesley is 2.94 per watt. To account for the typical energy usage of the average home in Wellesley, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,076, or $12,979 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Wellesley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,068 |
| 3 years | $-6,053 |
| 5 years | $-4,038 |
| 7 years | $-2,023 |
| 9 years | $-7 |
| 11 years | $2,008 |
| 13 years | $4,023 |
| 15 years | $6,038 |
| 17 years | $8,053 |
| 19 years | $10,069 |
| 21 years | $12,084 |
| 23 years | $14,099 |
| 25 years | $16,114 |
Top Solar Installers in Wellesley
When making the switch to solar, many homeowners opt to hire a solar installation company since installing a solar system yourself can be a challenging project. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Wellesley
Factors that Affect Solar Panel Costs in Wellesley
For many Wellesley homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Wellesley, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need, 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 nearly $2,940. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Wellesley average.
Solar Financing Terms
Most solar companies in Wellesley have solar loans, which reduce your upfront costs of installing a solar system. While solar loans make switching to solar energy more accessible for Wellesley homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact your pricing. Wellesley's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $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
There are many 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:
- Warranty: If you're concerned about the durability of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should choose, since different companies offer different panels.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 variety of 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. It will cost more if you want extra 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 choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Wellesley?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,142.75 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.