Solar Panel Cost Guide in Fall River, MA (2024 Update)
- Fall River Solar Installation Cost: $12,302
- 25-Year Savings: $17,076
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Fall River
We break down average solar pricing in Fall River.
The average cost of solar panels in Fall River is 4 per watt.To cover the typical energy needs of the average home in Fall River, most homeowners require a 4.3-kilowatt system. Using the figure above, a solar installation costs about $12,302, or $17,592 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Fall River homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Fall River homeowner can save about $23,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Fall River
| Year | Return on Investment |
|---|---|
| 1 years | $-10,579 |
| 3 years | $-7,132 |
| 5 years | $-3,685 |
| 7 years | $-238 |
| 9 years | $3,209 |
| 11 years | $6,656 |
| 13 years | $10,103 |
| 15 years | $13,550 |
| 17 years | $16,996 |
| 19 years | $20,443 |
| 21 years | $23,890 |
| 23 years | $27,337 |
| 25 years | $30,784 |
Top Solar Installers in Fall River
When switching to solar energy, many homeowners choose to go with a solar installation company since putting up solar panels yourself can be a difficult project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Fall River
Factors that Affect Solar Panel Costs in Fall River
For many Fall River homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Fall River, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Fall River, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Fall River average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect the cost. Fall River’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $18,282 | 12.3 years |
| 8 kW | $4.14 | $23,191 | $24,831 | 12.1 years |
| 10 kW | $4.06 | $28,420 | $31,608 | 11.8 years |
| 12 kW | $3.98 | $33,422 | $38,611 | 11.6 years |
| 14 kW | $3.90 | $38,196 | $45,842 | 11.4 years |
| 16 kW | $3.82 | $42,744 | $53,300 | 11.1 years |
| 18 kW | $3.74 | $47,064 | $60,986 | 10.9 years |
| 20 kW | $3.65 | $51,156 | $68,899 | 10.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: The type of solar panel you need to get plays a part in which company you should choose, since different companies have access to different panels.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Fall River, MA Solar Cost FAQs
How much does it cost to install solar panels in Fall River?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Fall River?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fall River is currently $391,209, so you can look forward to a value of about $16,040 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fall River is a rewarding investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.