Solar Panel Cost Guide in Melrose, MA (2024 Update)
- Melrose Solar Installation Cost: $12,674
- 25-Year Savings: $16,582
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Melrose
Find out what the average cost of installing solar panels is in Melrose.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Melrose, the typical cost of solar panels is 4 per watt.The average Melrose homeowner needs a 4.5-kilowatt system, which would cost about $12,674 with the federal tax credit, or $18,124 before the 0 tax credit is applied.
These figures are just estimates, and the cost of going solar for you will differ based on factors unique to your home and what company you go with.For most homeowners, the upfront cost of solar panels is worth paying. On average Melrose homeowners see about $22,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Melrose that can help you get a more accurate cost estimate for your home.
Solar savings over time in Melrose
| Year | Return on Investment |
|---|---|
| 1 years | $-10,950 |
| 3 years | $-7,503 |
| 5 years | $-4,057 |
| 7 years | $-610 |
| 9 years | $2,837 |
| 11 years | $6,284 |
| 13 years | $9,731 |
| 15 years | $13,178 |
| 17 years | $16,625 |
| 19 years | $20,072 |
| 21 years | $23,518 |
| 23 years | $26,965 |
| 25 years | $30,412 |
Top Solar Installers in Melrose
Trying to install solar panels yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your family.
If you’d like to switch to solar energy but still aren’t certain which solar system installer to go with, here are our recommendations for providers in Melrose:
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 Melrose
Factors that Affect Solar Panel Costs in Melrose
The cost of installing a solar system in Melrose can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Melrose.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Melrose homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s important to consider that as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact the cost. Melrose’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $16,924 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,020 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,344 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $35,895 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,673 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,679 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,912 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,372 | 11.1 years |
How to Save on Solar Panels
There are many companies available in Melrose, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- 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 kind 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 options before deciding.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Melrose, MA Solar Cost FAQs
What is the average cost of installing solar panels in Melrose?
The average cost of solar panels in Melrose is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual 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 cost the most important thing to think about when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will having solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Melrose is currently $827,225, so you could be looking at a value of about $33,916 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Melrose is a worthwhile investment.
How often do you have to replace solar panels?
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 higher amount 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.