Solar Panel Cost Guide in Medford, NY (Nov 2022)

  • Medford Solar Installation Cost: $8,033
  • 25-Year Savings: $14,338
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Medford

Find out what the average cost of installing solar panels is in Medford.

The average cost of a solar system in Medford is $3 per watt. Because a 3.9-kW system is needed to cover the energy usage of a typical home in Medford, the average price of going solar will be about $8,033 before claiming the federal solar tax credit of 30%.

These figures are just averages, and the cost of going solar for you may look different based on factors unique to your home and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average Medford homeowners see about $22,000 in savings on energy bills over 20 years.

Click the button below to get connected to a top solar company in Medford for a custom estimate.

Solar savings over time in Medford

Year Return on Investment
1 years $-7,138
3 years $-5,348
5 years $-3,559
7 years $-1,769
9 years $21
11 years $1,810
13 years $3,600
15 years $5,390
17 years $7,179
19 years $8,969
21 years $10,759
23 years $12,548
25 years $14,338

Top Solar Installers in Medford

Although you can install solar panels on your own, it takes extra labor and expertise. That's why most homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.

If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers in Medford:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

See all of the solar companies in Medford

Factors that Affect Solar Panel Costs in Medford

There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size. Solar power systems that have higher efficiency or power production require 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 $2,950. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. While solar loans make going solar more accessible for Medford homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you choose to install your solar panel system can influence your pricing. Medford's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

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 $21,650 9.3 years
8 kW $3.01 $16,850 $29,197 9.1 years
10 kW $2.95 $20,650 $36,909 9.0 years
12 kW $2.89 $24,284 $44,786 8.8 years
14 kW $2.83 $27,754 $52,829 8.6 years
16 kW $2.77 $31,058 $61,037 8.4 years
18 kW $2.71 $34,196 $69,410 8.3 years
20 kW $2.66 $37,170 $77,948 8.1 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Installation Process: When going solar, it's important to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
  • Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
  • Solar Panel Brands: The kind of solar panel you want to get plays a role in which installer you should choose, since different companies offer different panels.
  • Reputation: Companies that have been in business for many years likely have a solid 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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

EcoWatch's Medford, NY Solar Cost FAQs

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

This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Should I lease or buy solar panels in Medford?

Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

Can you sell solar power back to the grid in Medford?

Most 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 electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Medford?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

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