Solar Panel Cost Guide in Tewksbury, MA (2024 Update)
- Tewksbury Solar Installation Cost: $12,674
- 25-Year Savings: $16,716
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Tewksbury
Let’s have a look at the average cost of solar in Tewksbury.
The average cost of solar panels in Tewksbury is 4 per watt.To cover the typical energy needs of the average home in Tewksbury, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $12,674, or $18,124 before the federal solar tax credit of 0 is applied.
How much you pay can go higher or lower than the average in Tewksbury depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Tewksbury
| 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 Tewksbury
Installing solar panels yourself can be a challenging undertaking, which is why using a solar installation company is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to switch to solar energy but still aren’t certain which solar system 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 Tewksbury
Factors that Affect Solar Panel Costs in Tewksbury
The cost of installing a solar system in Tewksbury can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Tewksbury, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.The brand and kind of equipment you get 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Although solar loans make going solar more accessible for Tewksbury homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can play a role in determining your pricing. Tewksbury’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment 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 | $17,104 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,260 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,643 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,254 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,092 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,158 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,451 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,971 | 11.0 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: Review the contract terms thoroughly to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Confirm that 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 Tewksbury, MA Solar Cost FAQs
What is the average cost of installing solar panels in Tewksbury?
The average cost of solar panels in Tewksbury 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Tewksbury?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Tewksbury, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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.