Solar Panel Cost Guide in Wakefield, NH (Mar 2023)
- Wakefield Solar Installation Cost: $10,144
- 25-Year Savings: $16,596
- Payback Period: 9.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wakefield
We go over average solar pricing in Wakefield.
The national average cost of solar panels is $2.66 per watt, but in Wakefield it's 2.91 per watt. Using this figure, a typical 5.0-kW system would cost about $10,144 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will most likely look different based on your specific situation and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Wakefield see about $20,000 in savings on utility bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Wakefield
| Year | Return on Investment |
|---|---|
| 1 years | $-9,075 |
| 3 years | $-6,935 |
| 5 years | $-4,796 |
| 7 years | $-2,657 |
| 9 years | $-518 |
| 11 years | $1,621 |
| 13 years | $3,761 |
| 15 years | $5,900 |
| 17 years | $8,039 |
| 19 years | $10,178 |
| 21 years | $12,318 |
| 23 years | $14,457 |
| 25 years | $16,596 |
Top Solar Installers in Wakefield
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your switch to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Wakefield, therefore optimizing your ROI.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Wakefield
Factors that Affect Solar Panel Costs in Wakefield
Even though the average cost of a solar system in Wakefield is $10,144, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
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 around $2,910. The type of solar panels and equipment you want is another factor that will significantly affect 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 decide on 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 into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Wakefield, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. 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 cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also fit into 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 | $3.03 | $12,711 | $19,476 | 9.9 years |
| 8 kW | $2.97 | $16,622 | $26,294 | 9.7 years |
| 10 kW | $2.91 | $20,370 | $33,275 | 9.5 years |
| 12 kW | $2.85 | $23,955 | $40,418 | 9.3 years |
| 14 kW | $2.79 | $27,377 | $47,725 | 9.1 years |
| 16 kW | $2.74 | $30,636 | $55,195 | 8.9 years |
| 18 kW | $2.68 | $33,733 | $62,828 | 8.7 years |
| 20 kW | $2.62 | $36,666 | $70,623 | 8.5 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Warranty: If you care about the durability of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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 has an impact on which solar panel brands you have access to.
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 Wakefield, NH Solar Cost FAQs
How much does it cost to install solar panels in Wakefield?
The average cost of solar panels in Wakefield is about $14,550 for a 5-kW system and $29,100 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.
Can you get solar panels for free in Wakefield?
You can't get solar panels for free in Wakefield. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does Wakefield have a net metering program?
The majority of states have 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 higher level 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.