Solar Panel Cost Guide in Wilmington, MA (2024 Update)
- Wilmington Solar Installation Cost: $12,674
- 25-Year Savings: $16,619
- Payback Period: 12.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Wilmington
Find out how much it might cost to install solar panels in Wilmington.
The average cost of a solar panel system in Wilmington is 4 per watt.The average solar panel system size in Wilmington is around 4.5 kilowatts, meaning a cost of about $12,674 for a solar installation, or $18,124 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. 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 company you go with.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Wilmington find going solar can be quite rewarding.
To get a free quote from a top solar company in Wilmington, you can click the button below.
Solar savings over time in Wilmington
| 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 Wilmington
Trying to put up solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy usage, but going with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you’d like to go solar but still aren’t sure 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 Wilmington
Factors that Affect Solar Panel Costs in Wilmington
There are several factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. The model of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Wilmington, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $16,974 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,087 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,427 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $35,994 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,789 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,811 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,061 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,538 | 11.1 years |
How to Save on Solar Panels
The solar company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
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 Wilmington, MA Solar Cost FAQs
How much does it cost to install solar panels in Wilmington?
The average cost of solar panels in Wilmington 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 certain factors such as the kind 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 Wilmington?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside 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 tax rebates and credits 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 Wilmington?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.