Solar Panel Cost Guide in New Bedford, MA (2023 Update)
- New Bedford Solar Installation Cost: $12,302
- 25-Year Savings: $17,165
- Payback Period: 11.8 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in New Bedford
Find out how much it might cost to make the switch to solar in New Bedford.
While the national average of solar panels is $2.66 per watt, solar panels in New Bedford generally cost around 2.94.The average New Bedford homeowner needs a 4.3-kilowatt system, which would cost about $8,911 with the federal tax credit, or $12,743 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of equipment you choose, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in New Bedford see about $23,000 in savings on energy bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Bedford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,683 |
| 3 years | $-7,446 |
| 5 years | $-4,208 |
| 7 years | $-971 |
| 9 years | $2,267 |
| 11 years | $5,504 |
| 13 years | $8,742 |
| 15 years | $11,979 |
| 17 years | $15,217 |
| 19 years | $18,454 |
| 21 years | $21,692 |
| 23 years | $24,929 |
| 25 years | $28,167 |
Top Solar Installers in New Bedford
Many homeowners choose to use a solar panel company since trying to install solar panels on your own can be challenging. Plus, if you aren't sure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in New Bedford, 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
See all of the solar companies in New Bedford
Factors that Affect Solar Panel Costs in New Bedford
For many New Bedford homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in New Bedford, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you want for your solar system can increase or decrease 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in New Bedford provide solar loans, which reduce your upfront costs of installing a solar system.It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you choose will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fits within your budget.
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 | $18,406 | 12.3 years |
| 8 kW | $4.14 | $23,191 | $24,997 | 12.0 years |
| 10 kW | $4.06 | $28,420 | $31,814 | 11.8 years |
| 12 kW | $3.98 | $33,422 | $38,859 | 11.6 years |
| 14 kW | $3.90 | $38,196 | $46,131 | 11.3 years |
| 16 kW | $3.82 | $42,744 | $53,631 | 11.1 years |
| 18 kW | $3.74 | $47,064 | $61,358 | 10.9 years |
| 20 kW | $3.65 | $51,156 | $69,312 | 10.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's New Bedford, MA Solar Cost FAQs
How much does it cost to install solar panels in New Bedford?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 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 want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout New Bedford, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in New Bedford?
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.