Solar Panel Cost Guide in Leicester, MA (2024 Update)
- Leicester Solar Installation Cost: $12,726
- 25-Year Savings: $16,709
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Leicester
We go over average solar pricing in Leicester.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Leicester, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.5-kW system would cost about $12,726 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on electricity bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Leicester
| Year | Return on Investment |
|---|---|
| 1 years | $-11,002 |
| 3 years | $-7,556 |
| 5 years | $-4,109 |
| 7 years | $-662 |
| 9 years | $2,785 |
| 11 years | $6,232 |
| 13 years | $9,679 |
| 15 years | $13,126 |
| 17 years | $16,572 |
| 19 years | $20,019 |
| 21 years | $23,466 |
| 23 years | $26,913 |
| 25 years | $30,360 |
Top Solar Installers in Leicester
Trying to put up solar panels yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary depending on factors like your location and energy use, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
Working with a vetted solar installer 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 Leicester
Factors that Affect Solar Panel Costs in Leicester
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Leicester: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Leicester, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Leicester average.
Solar Financing Terms
Most solar installers in Leicester have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also adds to your total costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can play a role in determining the cost. Leicester’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Leicester are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $4.22 | $17,734 | $17,003 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,125 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,475 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $36,052 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,856 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,888 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,147 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,634 | 11.0 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your overall 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: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a good 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 positive reviews from previous customers.
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 Leicester, MA Solar Cost FAQs
What is the average cost of installing solar panels in Leicester?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Leicester?
Leasing solar panels can be an appealing choice, because it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Leicester?
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 many solar panels do I need to power 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 take a 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 account for 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.