How Much Does It Cost to Install Solar Panels in Massachusetts?
Feb. 08, 2024
If you’re thinking about installing home solar panels, your first question is probably about cost.
Solar panels are an investment, but they aren’t as expensive as you might think. Solar installation costs have decreased significantly in recent years, and incentives like the 30% federal solar tax credit make solar panel installation in Massachusetts even more affordable.
Keep reading for a breakdown of solar installation costs in Massachusetts.
Key Factors Affecting Solar Panel Costs
There are a few key factors that influence solar panel installation costs.
- Size - The number of solar panels you install will have the greatest impact on your overall costs. Larger systems cost more, but they can also generate more power.
- Equipment - There are many types of solar panels, inverters, batteries, and mounting systems available and price points vary based on quality.
- Roof characteristics - The size, shape, and angle of your roof will influence the design and resulting cost of your solar array.
- Financing - You can finance your solar installation with cash, a loan, or a power purchase agreement (PPA) and the financing option you choose will impact your overall costs. Paying for your solar panels upfront is the most cost-effective option because you don’t have to worry about interest or fees, but solar loans and PPAs offer greater flexibility and are a great option if you don’t want to make an upfront investment.
- Incentives - Solar panels are eligible for incentives like the 30% solar tax credit that can reduce your installation costs.
Average Cost of Solar Panels in Massachusetts
The average cost of a solar panel installation is around $3.00 per watt. That comes out to $30,000 for a 10 kW solar panel system, before taking the 30% federal solar tax credit into account. The solar tax credit brings the total cost down to $21,000.
It’s a good idea to research average solar panel costs before installing solar panels, but it’s important to remember that solar installation costs can vary significantly, even for houses in the same neighborhood. For the most accurate pricing information, schedule a free consultation with Boston Solar. We’ll review your electricity usage, analyze your roof, and provide a personalized estimate for your home solar installation.
Solar Incentives Reduce Your Installation Costs
Residential solar panels and battery storage systems are eligible for incentives that can reduce your overall costs.
Federal Solar Tax Credit
The solar tax credit reduces your federal income tax liability by 30% of your solar panel and/or battery installation costs for the year you install your system.
Massachusetts Residential Energy Credit
Massachusetts residents can claim a state income tax credit in addition to the federal solar tax credit. The Residential Energy Credit is worth 15% of your solar installation costs, with a $1,000 maximum.
The Top Solar Panel Installer in Massachusetts
Boston Solar has been the leading Massachusetts solar company for over 12 years. We install high-quality solar energy systems at a fair price and offer flexible financing options, including solar loans and power purchase agreements. We are here to answer all your questions about solar panel costs and help you find a financing option that makes sense for you.
Get a free quote for your solar panel installation! Call 617-858-1645 or contact us today.