Solar Panel Cost Guide in Winthrop Town, MA (2023 Update)
- Winthrop Town Solar Installation Cost: $9,035
- 25-Year Savings: $16,979
- Payback Period: 8.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Winthrop Town
Let's take a look at the average cost of solar panels in Winthrop Town.
The average cost of solar panels in Winthrop Town is 2.94 per watt. The average solar panel system size in Winthrop Town is around 4.4 kilowatts, meaning a cost of about $9,035 for a solar installation, or $12,920 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar company in Winthrop Town for a quote for your home.
Solar savings over time in Winthrop Town
| Year | Return on Investment |
|---|---|
| 1 years | $-7,994 |
| 3 years | $-5,913 |
| 5 years | $-3,832 |
| 7 years | $-1,751 |
| 9 years | $330 |
| 11 years | $2,411 |
| 13 years | $4,493 |
| 15 years | $6,574 |
| 17 years | $8,655 |
| 19 years | $10,736 |
| 21 years | $12,817 |
| 23 years | $14,898 |
| 25 years | $16,979 |
Top Solar Installers in Winthrop Town
Although you can install solar panels yourself, it involves extra labor and expertise. That's why most people choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on the cost of solar panels 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 Winthrop Town
Factors that Affect Solar Panel Costs in Winthrop Town
For many Winthrop Town homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Winthrop Town, 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 panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,940. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Winthrop Town to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, 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 estimate the cost of solar for your home or business in Winthrop Town is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different costs. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $22,680 | 9.0 years |
| 8 kW | $3.00 | $16,793 | $30,570 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,624 | 8.7 years |
| 12 kW | $2.88 | $24,202 | $46,843 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $55,226 | 8.3 years |
| 16 kW | $2.76 | $30,952 | $63,774 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $72,486 | 8.0 years |
| 20 kW | $2.65 | $37,044 | $81,364 | 7.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of 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 previous customers.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 Winthrop Town, MA Solar Cost FAQs
What is the average cost of installing solar panels in Winthrop Town?
The average cost of solar panels in Winthrop Town is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Winthrop Town?
Leasing solar panels can be an option if you are unable to pay upfront or get 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 savings from going solar.
How will having solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Winthrop Town is currently $446,408, which means you can expect a value of about $18,303 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Winthrop Town is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 buy between 20 and 35 panels to cover 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.