Solar Panel Cost Guide in Springfield, MA (2024 Update)
- Springfield Solar Installation Cost: $12,716
- 25-Year Savings: $14,880
- Payback Period: 13.2 Years
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Average Cost of Solar Panels in Springfield
Find out what the average cost of solar panel installation is in Springfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Springfield generally cost about 4.Because a 4.5-kW system is needed to cover the energy needs of a typical home in Springfield, the average price of going solar will be about $12,716 after claiming the federal solar tax credit of 0.
The true cost of your system can go above or below the average in Springfield depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Springfield see about $20,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom estimate.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,198 |
| 3 years | $-8,162 |
| 5 years | $-5,127 |
| 7 years | $-2,092 |
| 9 years | $944 |
| 11 years | $3,979 |
| 13 years | $7,015 |
| 15 years | $10,050 |
| 17 years | $13,085 |
| 19 years | $16,121 |
| 21 years | $19,156 |
| 23 years | $22,192 |
| 25 years | $25,227 |
Top Solar Installers in Springfield
When switching to solar energy, many homeowners opt to hire a solar installer since handling can be a difficult project. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you’d like to make the switch to solar but still aren’t sure which solar installer to go with, here are our suggestions for providers near you:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
The cost of installing a solar system in Springfield can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Springfield, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Springfield to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Springfield, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Springfield have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $14,568 | 13.7 years |
| 8 kW | $4.14 | $23,191 | $19,878 | 13.5 years |
| 10 kW | $4.06 | $28,420 | $25,416 | 13.2 years |
| 12 kW | $3.98 | $33,422 | $31,182 | 12.9 years |
| 14 kW | $3.90 | $38,196 | $37,175 | 12.7 years |
| 16 kW | $3.82 | $42,744 | $43,395 | 12.4 years |
| 18 kW | $3.74 | $47,064 | $49,842 | 12.1 years |
| 20 kW | $3.65 | $51,156 | $56,517 | 11.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion 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 Springfield, MA Solar Cost FAQs
What is the average cost of installing solar panels in Springfield?
This is a tough question to answer precisely, because the cost depends on a few different 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 cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.