Solar Panel Cost Guide in Wakefield, NH (2024 Update)
- Wakefield Solar Installation Cost: $14,725
- 25-Year Savings: $16,586
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Wakefield
Find out what the average cost of solar panel installation is in Wakefield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wakefield, the typical cost of solar panels is 4 per watt.Using this figure, a typical 5.0-kW system would cost about $14,725 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on your specific situation and what company you want to go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Wakefield can save around $20,000 on their power bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Wakefield
| Year | Return on Investment |
|---|---|
| 1 years | $-13,318 |
| 3 years | $-10,504 |
| 5 years | $-7,691 |
| 7 years | $-4,877 |
| 9 years | $-2,063 |
| 11 years | $750 |
| 13 years | $3,564 |
| 15 years | $6,378 |
| 17 years | $9,191 |
| 19 years | $12,005 |
| 21 years | $14,819 |
| 23 years | $17,632 |
| 25 years | $20,446 |
Top Solar Installers in Wakefield
Although it's possible to install solar panels by yourself, it takes extra labor and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you’d like to go solar but still aren’t sure which solar system company to go with, here are our suggestions for providers in Wakefield:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
The cost of installing a solar system in Wakefield can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, 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 original 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 significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Wakefield, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Wakefield are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $4.39 | $18,433 | $13,754 | 14.3 years |
| 8 kW | $4.30 | $24,105 | $18,811 | 14.0 years |
| 10 kW | $4.22 | $29,540 | $24,105 | 13.8 years |
| 12 kW | $4.14 | $34,739 | $29,635 | 13.5 years |
| 14 kW | $4.05 | $39,702 | $35,401 | 13.2 years |
| 16 kW | $3.97 | $44,428 | $41,403 | 12.9 years |
| 18 kW | $3.88 | $48,918 | $47,642 | 12.7 years |
| 20 kW | $3.80 | $53,172 | $54,117 | 12.4 years |
How to Save on Solar Panels
There are a large number of companies available in Wakefield, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline incentives and warranties.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Wakefield?
A solar panel system isn’t free in Wakefield, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Wakefield?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Wakefield?
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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.