Solar Panel Cost Guide in Medford, NY (2024 Update)
- Medford Solar Installation Cost: $9,930
- 25-Year Savings: $14,345
- Payback Period: 11.1 Years
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Average Cost of Solar Panels in Medford
Here’s how much it might cost to switch to solar power in Medford.
Although the national average of solar panels is $2.66 per watt, solar panels in Medford generally cost around 4.To account for the typical energy usage of the average home in Medford, most homeowners require a 3.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,930, or $14,200 before the federal solar tax credit of 0 is applied.
These figures are only averages, and the cost of going solar for you may differ based on factors unique to your home and what company you choose to go with.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on energy bills.
To get a free quote from a pre-vetted solar installer in Medford, you can click the button below.
Solar savings over time in Medford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,405 |
| 3 years | $-5,354 |
| 5 years | $-2,303 |
| 7 years | $747 |
| 9 years | $3,798 |
| 11 years | $6,849 |
| 13 years | $9,899 |
| 15 years | $12,950 |
| 17 years | $16,001 |
| 19 years | $19,051 |
| 21 years | $22,102 |
| 23 years | $25,153 |
| 25 years | $28,204 |
Top Solar Installers in Medford
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of an installer can make your swap to solar power much easier. Another great thing about choosing a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
If you're on the hunt for a solar company in Medford, we've compiled 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
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Medford
Factors that Affect Solar Panel Costs in Medford
Although the average cost of a solar system in Medford is $9,930, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,650. The model of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Medford homeowners choose to finance their solar panel systems to make going solar more affordable.Although solar loans make adopting solar energy more accessible for Medford homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Medford is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services at different price points.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $18,592 | 11.5 years |
| 8 kW | $3.72 | $20,849 | $25,198 | 11.3 years |
| 10 kW | $3.65 | $25,550 | $32,009 | 11.1 years |
| 12 kW | $3.58 | $30,047 | $39,024 | 10.9 years |
| 14 kW | $3.50 | $34,339 | $46,243 | 10.7 years |
| 16 kW | $3.43 | $38,427 | $53,667 | 10.4 years |
| 18 kW | $3.36 | $42,311 | $61,295 | 10.2 years |
| 20 kW | $3.29 | $45,990 | $69,128 | 10.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on part replacement and repairs.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Medford, NY Solar Cost FAQs
How much does it cost to install solar panels in Medford?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 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 above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Medford?
A solar panel system isn’t free in Medford, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Medford have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 buy 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.