This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per.
Solar panel installation cost massachusetts.
Solar panel cost in 2020.
The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt.
Solar power systems are very custom based on the home roof type shading and utility.
This section describes the different types of solar energy and how they are used in massachusetts.
What range of costs should you expect to see in quotes for a solar panel system.
Installing a solar panel system costs an average of 23 597 and dropping most homeowners pay between 16 532 and 30 820 expect to pay 2 50 to 3 50 per watt with most systems in the 3kw to 10kw range until the end of 2020 you can deduct 26 of the installation costs with the federal investment tax credit itc.
As of aug 2020 the average cost of solar panels in massachusetts is 2 87 per watt making a typical 6000 watt 6 kw solar system 12 756 after claiming the 26 federal solar tax credit now available.
With this incentive the state of massachusetts pays.
Installation of panels for the average 5kw system ranges from 11 100 22 400.
However the experts agree that massachusetts is an excellent location for solar systems.
The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.
However solarreviews handles more than 1 000 quote requests per day and the current average price we see on our marketplace is 2 53 per watt.
With energy prices on the rise this may be the perfect time.
The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs.
Many people have the misconception that solar pv systems do not work in massachusetts due to new england s diverse weather conditions.
Solar panel cost data massachusetts 2020 updated.
As of september 2020 the average solar panel cost in massachusetts is 3 18 w given a solar panel system size of 5 kilowatts kw an average solar installation in massachusetts ranges in cost from 13 515 to 18 285 with the average gross price for solar in massachusetts coming in at 15 900 after accounting for the 26 federal investment tax credit itc and other state and local solar.
Solar panel costs for an average sized installation in the u s.
Usually range from 11 144 to 14 696 after solar tax credits and the average price per watt for solar panels ranges from 2 51 to 3 31.
Under this credit the owner of renewable energy systems get a 15 coverage of the system cost against his or her ma income tax with a 1000 maximum credit amount.
How does system size impact the cost of solar.
The most significant incentive to install solar panels for homes and businesses in massachusetts is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.
Solar massachusetts renewable target smart one of massachusetts most exciting solar developments is the smart program.
Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.
