Solar Panel Cost Guide in Salem, NH (2024 Update)

  • Salem Solar Installation Cost: $14,236
  • 25-Year Savings: $13,900
  • Payback Period: 15.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 20, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Salem

Find out what the average cost of solar panels are in Salem.

The national average cost of solar panels is $2.66 per watt, but in Salem it’s 4 per watt.The average solar panel system size in Salem is around 4.8 kilowatts, meaning a cost of about $14,236 for a solar installation, or $20,357 before the 0 federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Salem homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $19,000 on energy bills over 20 years, many homeowners in Salem find investing in solar can be quite rewarding.

Click the button below to get connected to a vetted solar installer in your area for a personalized quote.

Solar savings over time in Salem

YearReturn on Investment
1 years$-12,884
3 years$-10,178
5 years$-7,473
7 years$-4,768
9 years$-2,063
11 years$642
13 years$3,347
15 years$6,052
17 years$8,757
19 years$11,462
21 years$14,167
23 years$16,872
25 years$19,577

Top Solar Installers in Salem

Installing solar panels yourself can be a time-consuming undertaking, which is why getting a solar installer is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Salem

Factors that Affect Solar Panel Costs in Salem

The cost of installing a solar system in Salem can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $4,220 per kilowatt in Salem.The model of solar panels and equipment you choose is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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 searching for a solar system that’s in your budget.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Salem homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Salem is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fits within your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.39$18,433$11,09415.6 years
8 kW$4.30$24,105$15,26515.3 years
10 kW$4.22$29,540$19,67115.0 years
12 kW$4.14$34,739$24,31514.7 years
14 kW$4.05$39,702$29,19414.4 years
16 kW$3.97$44,428$34,31014.1 years
18 kW$3.88$48,918$39,66213.8 years
20 kW$3.80$53,172$45,25113.5 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:

  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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 Salem, NH Solar Cost FAQs

How much does it cost to install solar panels in Salem?

The average cost of solar panels in Salem is about $21,100 for a 5-kW system and $42,200 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model 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?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is it worth going solar in Salem?

Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.

How long do solar panels last in Salem?

Though 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 their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.