Boston has Solar Traction

As the U.S. continues to contribute to solar growth, Massachusetts has ranked at the top ten for panel installation. They’re reputable for incentives and programs that are the best in the nation.

In our continuing series noting the cost of solar installation in different cities, it is a natural option to make a city in Massachusetts our next choice to review. Now this area is a little west of Boston, and this home is a large, older colonial style home. 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.

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. 
 

All About the Costs

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. 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. On the other hand, many local installers are certified, they care about their work, and they are, many times, less expensive than national chains. 
 

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. 
 

Invest in Your Future

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.
 

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. 

For more information on solar, click below;

HahaSmart Blog - More Solar Tips and Guide
HahaSmart News - Stay Informed
Your Solar Incentives - See Credits and Incentives in Your Area
Check Your Home's Solar Price - See How Much You Save
Register Now - Unlock The Lowest Solar Prices in Your Area