Solar Panel Cost Guide in Boston, NY (2023 Update)
- Boston Solar Installation Cost: $9,458
- 25-Year Savings: $5,870
- Payback Period: 15.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Boston
Find out what the average cost of installing solar panels is in Boston.
The average cost of a solar panel system in Boston is 2.95 per watt. To cover the typical energy usage of the average home in Boston, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $9,458, or $13,525 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs may differ based on the amount of energy your home requires and what company you want to go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $13,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Boston
| Year | Return on Investment |
|---|---|
| 1 years | $-8,845 |
| 3 years | $-7,618 |
| 5 years | $-6,392 |
| 7 years | $-5,166 |
| 9 years | $-3,940 |
| 11 years | $-2,714 |
| 13 years | $-1,487 |
| 15 years | $-261 |
| 17 years | $965 |
| 19 years | $2,191 |
| 21 years | $3,417 |
| 23 years | $4,644 |
| 25 years | $5,870 |
Top Solar Installers in Boston
Although it's possible to install solar panels yourself, it requires extra labor and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you pick which one will be right for you.
If you're on the hunt for a solar installer in Boston, the EcoWatch team has put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Boston
Factors that Affect Solar Panel Costs in Boston
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Boston: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Boston. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Boston, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can affect the cost. Boston's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Boston are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.07 | $12,886 | $7,204 | 16.0 years |
| 8 kW | $3.01 | $16,850 | $9,936 | 15.7 years |
| 10 kW | $2.95 | $20,650 | $12,833 | 15.4 years |
| 12 kW | $2.89 | $24,284 | $15,896 | 15.1 years |
| 14 kW | $2.83 | $27,754 | $19,123 | 14.8 years |
| 16 kW | $2.77 | $31,058 | $22,516 | 14.5 years |
| 18 kW | $2.71 | $34,196 | $26,074 | 14.2 years |
| 20 kW | $2.66 | $37,170 | $29,797 | 13.9 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: If you care about the longevity of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Boston, NY Solar Cost FAQs
How much does it cost to install solar panels in Boston?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 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 above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Boston?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $669.67 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.