Solar Panel Cost
The cost of installing solar panels in Massachusetts varies. This is largely dependent on the location of the installation and the size of the home’s electricity bill. For a more accurate estimate, consult a local solar installation company. These companies can give you a detailed quote and help you to compare quotes.
You can expect a ma solar panels system in Massachusetts to cost around $10,000. This is slightly lower than the national average, but still higher than the national average. However, if you live in an area with less sunny days, a cheaper solar system may be better for you. In Massachusetts, 197 sunny days per year are typical. Although the state does not receive as much sun as other parts of the country, the sunshine is still sufficient to offset a home’s energy bill. However, the state’s coastal location can result in extreme weather. Hurricanes and tropical storms can cause power outages.
In addition to being more environmentally friendly, a Massachusetts solar panel system will also reduce your electricity bill. The electricity produced by the system will be fed into the electrical grid. This will reduce your monthly power bill, while helping the local economy. You can also participate in net metering, which gives you credits towards your utility bill for excess electricity.
Massachusetts Solar Panel Cost
There are several ways to finance the cost of solar panels in Massachusetts. The most common and recommended method is through solar loans. There are several solar loan programs available, each with different interest rates, repayment term, and security mechanisms. Loan terms vary from five to twelve years, and you can get loans of up to 100% of the solar panel cost.
In addition to federal tax credits, the state of Massachusetts offers a solar panel tax credit to residents who install them. This credit is based on the value of excess electricity generated by the solar system. However, the amount of the tax credit depends on where you live and which electrical utility provider you choose.
When you find a solar panel installation company, call their references and visit previous installations. It is also important to check that the installer is a registered home improvement contractor and has a licensed electrician or construction supervisor on staff. You should also ask for references from their subcontractors, if any.
The price of solar panels varies by region. Typically, you should expect to pay about $18,000 to $25,000 for an average 5.13 kW system. After incentives, you may be able to save as much as $25,000 over twenty to thirty years. Some homeowners opt to finance their purchase with a home equity loan.