Solar Panel Cost Guide in Wenham, MA (2023 Update)
- Wenham Solar Installation Cost: $8,746
- 25-Year Savings: $16,885
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wenham
We go over average solar pricing in Wenham.
In Wenham, solar panels cost about 2.94 per watt on average. The average solar panel system size in Wenham is around 4.2 kilowatts, meaning a cost of about $8,746 for a solar installation, or $12,507 before the 30% federal solar tax credit is applied.
How much you pay can go above or below the average in Wenham based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average Wenham homeowners see about $23,000 in savings on electricity bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Wenham
| Year | Return on Investment |
|---|---|
| 1 years | $-7,721 |
| 3 years | $-5,671 |
| 5 years | $-3,620 |
| 7 years | $-1,570 |
| 9 years | $481 |
| 11 years | $2,531 |
| 13 years | $4,582 |
| 15 years | $6,632 |
| 17 years | $8,683 |
| 19 years | $10,733 |
| 21 years | $12,784 |
| 23 years | $14,834 |
| 25 years | $16,885 |
Top Solar Installers in Wenham
Although you can install solar panels by yourself, it requires extra energy and knowledge. For that reason, most people choose a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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
There are a number of criteria 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 does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,940 per kilowatt in Wenham. The model of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Wenham offer solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Wenham, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Wenham know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
There are a lot of companies to choose from in Wenham, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
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
How much does it cost to install 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 certain factors like the kind 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 initial 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 take into account are the quality and durability of your solar panels.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Wenham, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Wenham?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.