Solar Panel Cost Guide in Halifax, MA (2024 Update)
- Halifax Solar Installation Cost: $11,760
- 25-Year Savings: $16,544
- Payback Period: 11.7 Years
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Average Cost of Solar Panels in Halifax
Let’s take a look at the average cost of solar panels in Halifax.
In Halifax, solar panels cost about 4 per watt on average.The average Halifax homeowner needs a 4.1-kilowatt system, which would cost about $11,760 with the federal tax credit, or $16,817 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on your energy needs and what company you go with.With average savings of about $23,000 on energy bills over 20 years, many homeowners in Halifax find installing solar panels has a decent ROI.
You can click the button below to get connected with a top solar company in Halifax for a quote for your home.
Solar savings over time in Halifax
| Year | Return on Investment |
|---|---|
| 1 years | $-10,037 |
| 3 years | $-6,590 |
| 5 years | $-3,143 |
| 7 years | $304 |
| 9 years | $3,751 |
| 11 years | $7,198 |
| 13 years | $10,644 |
| 15 years | $14,091 |
| 17 years | $17,538 |
| 19 years | $20,985 |
| 21 years | $24,432 |
| 23 years | $27,879 |
| 25 years | $31,326 |
Top Solar Installers in Halifax
When going solar, many homeowners opt to hire a solar installation company since putting up solar panels yourself can be a challenging project. Some solar companies, particularly local ones, can help you take advantage of incentives in Halifax, therefore optimizing your ROI.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Halifax
Factors that Affect Solar Panel Costs in Halifax
Even though the average cost of a solar system in Halifax is $11,760, your final 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 crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install 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
Many homeowners find the average cost of solar in Halifax to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Halifax is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut 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 | $4.22 | $17,734 | $18,601 | 12.2 years |
| 8 kW | $4.14 | $23,191 | $25,257 | 12.0 years |
| 10 kW | $4.06 | $28,420 | $32,139 | 11.7 years |
| 12 kW | $3.98 | $33,422 | $39,249 | 11.5 years |
| 14 kW | $3.90 | $38,196 | $46,586 | 11.3 years |
| 16 kW | $3.82 | $42,744 | $54,151 | 11.0 years |
| 18 kW | $3.74 | $47,064 | $61,943 | 10.8 years |
| 20 kW | $3.65 | $51,156 | $69,962 | 10.6 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your total 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 keep in mind, including:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project timeline.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Halifax, MA Solar Cost FAQs
What is the average cost of installing solar panels in Halifax?
The average cost of solar panels in Halifax is about $20,300 for a 5-kW system and $40,600 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.
Is it better to lease or buy solar panels in Halifax?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure 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.
Does Halifax have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy 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 Halifax?
On average, the lifespan of solar panels is 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 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.