The total costs of solar panels in Massachusetts can vary depending on the size of the system and a number of other factors which we will explain more in this guide. In Massachusetts, a residential solar system could cost between $8,000 - $15,000, but the average system size costs around $10,240.
Most homeowners save between 40% - 60% on their monthly energy costs compared to traditional electricity sources, making solar panels a good long term energy solution, with immediate benefits.
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How Much Do Solar Panels Cost In Massachusetts?
The most recent industry shows that the costs of solar panels in Massachusetts is between $8,000 - $15,000 depending on the size of your home and energy needs. The average home size in Massachusetts is around 1,800 sq ft., making the average solar system in MA around $10,240 with Massachusetts solar incentives.
Here’s a more specific breakdown of the cost of solar panels in Massachusetts by home size.
|1,500 - 1,750 sq ft.||3 kW||$7,890|
|1,750 - 2,000 sq ft.||4 kW||$10,240|
|2,000 - 2,300 sq ft.||5 kW||$13,475|
|2,300 - 2,500 sq ft.||6 kW||$15,270|
|2,500 - 2,800 sq ft.||7 kW||$18,320|
|2,800 - 3,000 sq ft.||8 kW||$22,109|
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Factors That Influence The Costs of Solar
The cost of going solar in Massachusetts depends on several factors, including the size of the solar system, the type and quality of solar panels used, installation expenses, and any additional features like battery storage.
Additionally, local incentives, tax credits, and rebates can also influence the overall cost. The initial investment may vary, but homeowners can benefit from significant savings on their electricity bills and potential long-term financial gains.
Installation & Labor Costs
Installation and labor costs for solar panels encompass the expenses associated with the physical setup of the system, including the manpower required for its placement and connection. These costs also include the planning, permitting, and inspection process necessary for a successful installation. Despite being only one component of total solar expenses, these costs typically account for 10% to 20% of the overall investment, impacting the total price of transitioning to solar power.
In transitioning to solar power in Massachusetts, it's important to comprehend the financial aspects involved. The lion's share of your investment, typically around 60-70%, will be directed towards equipment costs. This includes the purchase of solar panels, inverters, and mounting hardware, which form the backbone of your solar energy system, providing long-term renewable energy for your home or business.
When investing in solar panels, you'll primarily encounter two types of taxes: sales and property taxes. Sales tax applies at the time of purchase, while an increase in property taxes could occur due to the added value of the solar system to your home.
However, Massachusetts offer exemptions on both these taxes for solar installations, so you may be eligible for significant savings, making it crucial to research your local regulations.
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How to Reduce The Costs of Solar Panels in Massachusetts
Fortunately, Massachusetts has been proactively encouraging homeowners to switch to solar energy to help accomplish their goal of net zero greenhouse emissions by 2050 by offering financial incentives to MA home & business owners.
You can save thousands on solar panels in Massachusetts by working with a trustworthy solar company to help you understand which solar incentives you qualify for, what is the proper size system for your energy needs, and professional installation to help your solar panels stand the test of time.
ROI on Solar | Solar Payback Period
The solar payback period is the amount of time it takes for the savings from your solar panel system to equal the total cost of the system itself. In Massachusetts, thanks to high electricity rates and the state's strong solar incentives, the payback period is relatively short.
Most solar owners can recoup their initial investment in about 7-9 years. After this period, your solar system continues to generate virtually free electricity, translating to pure savings for the remainder of the system's lifespan, which is typically 25-30 years.
Solar Financing Options
Embracing solar energy doesn't necessarily mean having to handle substantial upfront costs. Thanks to solar financing options like leases, power purchase agreements (PPAs), and solar loans, you can start harnessing the sun's power without breaking the bank. With a solar lease or PPA, a third-party provider handles the installation and maintenance of the system on your property, and you pay for the power it generates or a fixed lease payment, often less than what you currently pay for electricity.
A solar loan allows you to spread the cost of owning a solar system across several years, while enjoying all the benefits and incentives available. It's like having your cake and eating it too!
Curious to know more about getting solar panels at no upfront cost? Don't miss our deep-dive article on "How to Get Free Solar Panels in Massachusetts". This guide is packed with insights on leveraging various financing options and incentives to maximize your solar savings in the Bay State.
Massachusetts Solar Incentives
In Massachusetts, solar adopters can take advantage of a suite of generous incentives. The federal Investment Tax Credit (ITC) lets you deduct 30% of your solar system costs from your federal taxes. Additionally, the state offers a 20-year property tax exemption for the added home value from your solar system and waives the sales tax on your solar equipment purchase. Finally, the Solar Massachusetts Renewable Target (SMART) program pays you monthly based on your solar system's energy production, further offsetting costs. These incentives make going solar in Massachusetts highly advantageous.
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Is Solar Worth it in Massachusetts?
Yes! In Massachusetts, embracing solar energy is a smart move. Given the state's high electricity rates and robust solar incentives, such as the Solar Massachusetts Renewable Target (SMART) program and generous tax exemptions, solar panel owners often recoup their initial investment within just 7-9 years. Beyond this payback period, your solar panels keep producing energy - virtually free of cost - for their remaining lifespan, typically another 15-20 years. That's a long time to enjoy substantial savings and green, renewable energy!
Starting your solar journey to savings has never been easier. You can start in minutes, with no obligations, by getting a free solar savings quote from EcoGen America. In this report you will see how much your customized solar system costs, which solar incentives you qualify for, and all of your purchasing options. Start today to explore all of your solar options!
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The most recent industry shows that the costs of solar panels in Massachusetts is between $8,000 - $15,000 depending on the size of your home and energy needs. The average home size in Massachusetts is around 1,800 sq ft, making the average solar system in MA around $10,240 with Massachusetts solar incentives. See the complete breakdown of solar panels in Massachusetts!
Yes! Solar panels are a savvy investment in Massachusetts, thanks to the state's high electricity rates and robust solar incentives. With these advantages, owners typically recoup their investment in 7-9 years and enjoy free, renewable energy for many more years to come. Read all of the pros & cons to solar in Massachusetts to see if solar is right for you!
Although Massachusetts will not pay for your solar panels, they do offer many financial incentives and purchasing options to help families go solar for no money down. Read the complete guide to going solar for free in MA.
Although Massachusetts does not offer a state-specific solar tax credit, Residents can take advantage of the federal Investment Tax Credit (ITC), which allows a deduction of 30% of the cost of installing a solar energy system from federal taxes. See more financial incentives for solar panels in Massachusetts.