Solar Panel Cost Guide in Salem, NH (Jan 2023)

  • Salem Solar Installation Cost: $9,818
  • 25-Year Savings: $13,898
  • Payback Period: 10.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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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 installing solar panels is in Salem.

The average cost of solar panels in Salem is $3 per watt. Because a 4.8-kW system is needed to cover the energy needs of a typical home in Salem, the average price of going solar will be about $9,818 before claiming the federal solar tax credit of 30%.

The true cost of your system can be above or below the average in Salem based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on utility bills.

To calculate your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Salem

Year Return on Investment
1 years $-8,870
3 years $-6,972
5 years $-5,075
7 years $-3,178
9 years $-1,280
11 years $617
13 years $2,514
15 years $4,412
17 years $6,309
19 years $8,206
21 years $10,104
23 years $12,001
25 years $13,898

Top Solar Installers in Salem

Although it's possible to install solar panels by yourself, it takes extra time and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

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

See all of the solar companies in Salem

Factors that Affect Solar Panel Costs in Salem

For many Salem homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Salem, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,910. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Salem average.

Solar Financing Terms

Many homeowners find the average cost of solar in Salem to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Salem is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.03 $12,711 $16,816 10.8 years
8 kW $2.97 $16,622 $22,747 10.6 years
10 kW $2.91 $20,370 $28,841 10.3 years
12 kW $2.85 $23,955 $35,099 10.1 years
14 kW $2.79 $27,377 $41,519 9.9 years
16 kW $2.74 $30,636 $48,102 9.7 years
18 kW $2.68 $33,733 $54,848 9.5 years
20 kW $2.62 $36,666 $61,757 9.3 years

How to Save on Solar Panels

The solar installer you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:

  • Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project timeline rebates and warranties.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
  • Installation Process: When making the switch to solar, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
  • Reputation: Long-standing companies likely have a good 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 National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

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

EcoWatch's Salem, NH Solar Cost FAQs

What is the average cost of installing solar panels in Salem?

This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is without a doubt 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 great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 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.

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