Solar Panel Cost Guide in Wenham, MA (2023 Update)
- Wenham Solar Installation Cost: $8,743
- 25-Year Savings: $16,888
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wenham
Here's how much it might cost to go solar in Wenham.
The national average cost of solar panels is $2.66 per watt, but in Wenham it's 2.94 per watt. Using this figure, a typical 4.2-kW system would cost about $8,746 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Wenham homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $23,000 on utility bills over 20 years, many homeowners in Wenham find installing solar panels can pay off big.
You can click the button below to get connected with a top solar company in Wenham that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wenham
| Year | Return on Investment |
|---|---|
| 1 years | $-7,020 |
| 3 years | $-3,573 |
| 5 years | $-126 |
| 7 years | $3,321 |
| 9 years | $6,768 |
| 11 years | $10,214 |
| 13 years | $13,661 |
| 15 years | $17,108 |
| 17 years | $20,555 |
| 19 years | $24,002 |
| 21 years | $27,449 |
| 23 years | $30,896 |
| 25 years | $34,343 |
Top Solar Installers in Wenham
Many homeowners opt for a solar installation company since installing solar panels on your own can be time-consuming. Plus, if you're not certain what kind of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. 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 Wenham
Factors that Affect Solar Panel Costs in Wenham
While the average cost of a solar system in Wenham is $8,746, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Wenham, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Wenham, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Though solar loans make switching to solar energy more accessible for Wenham 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 avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Wenham is the company you choose to install your PV system. As with choosing a company to build a deck or pool, for example, you'll have many options for solar installers that offer a range of services for different budgets. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for and also is within your budget.
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 | $23,357 | 8.9 years |
| 8 kW | $3.00 | $16,793 | $31,471 | 8.7 years |
| 10 kW | $2.94 | $20,580 | $39,751 | 8.5 years |
| 12 kW | $2.88 | $24,202 | $48,195 | 8.4 years |
| 14 kW | $2.82 | $27,660 | $56,804 | 8.2 years |
| 16 kW | $2.76 | $30,952 | $65,577 | 8.0 years |
| 18 kW | $2.70 | $34,080 | $74,515 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $83,618 | 7.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar installer. Make sure you understand how the installation process works and the project timeline.
- 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 big role in the company you go with.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, 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
EcoWatch's Wenham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Wenham?
The average cost of solar panels in Wenham is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Wenham have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 larger 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.
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.