Even in cold weather, Boston MA is hot on solar power

Massachusetts is another place where solar power just keeps getting more popular. In our continuing series noting the cost of solar installation in different cities, it is a natural choice to make a city in Massachusetts our fourth choice. Now this area is a little west of Boston, and this home is a large, older colonial style home. Although the home is older, the roof is new and the windows are now weather resistant windows, so the home is not quite the victim of the elements that it once was.

It still is a large home, so the average monthly electric bill is $260. The home uses a lot of power in the winter, but Boston has some mild summers typically. The family does not have a pool or a hot tub, but they do have air conditioning to handle the heat in the summer when it occasionally spikes. Most of the energy is expended in the winter with the cold temperatures, rain, and snow. 

If we use the HahaSmart Price Checker tool, we can enter the address and the average monthly bill. Once we enter the data, it returns some great useful information. 
 

The breakdown of the cost of solar materials 

The site recommends a 10.7 KW solar panel system and it gives a breakdown of the cost of the system and all the permits needed. First, you will need the approval of the design and a permit to build the solar system. That engineering and permitting process would cost $798. Then you need to buy all the equipment, the solar panels, the power inverters, the racking to mount the panels, and other miscellaneous items come to about $6,904. If you add the sales tax of about $1,053 it brings the total to $12,825 in equipment and permitting. 
 

How much it costs for solar panel installation?

Installation costs can vary, but at HahaSmart, we compiled data from 2296 different installers and we can say the cost range is from about $8,048 to $11,803 to install the solar panels. If we average the two numbers we get $9,925 as an average installation cost. It is important to shop around for the best installer for your needs. Some of the less expensive ones are not necessarily the best ones. On the other hand, many local installers are certified, they care about their work, and they are, many times, less expensive than national chains. 
 

The total cost and the federal tax credit applied

If we add the grand total of $12,825 and $9,925 we get $22,750 before local, state, and federal tax incentive programs. Because programs differ in every state, we are only applying the 30 percent federal tax credit. After we factor in the tax credit, the net cost of buying and installing a residential solar panel system in the greater Redding area is about $16,484. Again it is important to check local and state governments for incentives and help with the cost.
 

The solar panel payback to yourself

If you take into account in the old monthly bill average of $260, and at least a 20 year lifespan on those solar panels and the cost of the whole system, it is estimated that the homeowner would be able to pay off those solar panels in approximately 4.9 years, with a payback rate of about 19.6 percent each year. After that, the savings grow tremendously. Some companies that don’t use HahaSmart tell customers that their payback period is much longer, so be sure to find out if you are using a HahaSmart Certified Installer.
 

How much could you save on electricity costs?

After 20 years, a homeowner who installed solar panels on their home could save approximately $79,000 in electricity costs. After you factor in the tax credits, that payback is almost five times what the panels originally cost.
Of course, all these prices and savings amounts can change slightly when different brands of solar panels and inverters are used, but the general point is that installing solar panels on a home Boston still is less expensive than most new cars. They also increase the value of the home, they pay for themselves in less than five years, the whole solar panel system can save a homeowner almost $80,000 in power costs, and you can run the air conditioning endlessly in the summer months. Why wouldn’t someone want to go solar if they had the chance?

To learn more about how you can participate in the solar power revolution, you can visit HahaSmart, and try out our Price Checker Tool yourself. You can not only see how much a solar panel system would cost, not just in Boston, but in your area too. Enter the information and see how much you can save in the next 20 years.

For information relating to going solar don’t forget to visit our solar blog section for more handy guides and articles.