*Prices are shown after applying the 30% federal tax credit.
As of Apr 2024, the average cost of solar panels in Medford is $2.8 per watt making a typical 6000 watt (6 kW) solar system $11,765 after claiming the 30% federal solar tax credit now available.
This is lower than the average price of residential solar power systems across the United States which is currently $3.00 per watt.
The size of a solar panel system also plays a role in how much the installation will cost.
Larger solar installations will typically have a lower cost per watt, because the panels can be purchased at a ‘bulk price’. However, these larger solar systems will still have a higher total cost, because they are made up of more individual panels.
System size* | Avg cost per watt |
Avg system cost
(After tax credit) show before tax |
---|---|---|
4kW | $3.06 | $8,580 |
5kW | $2.93 | $10,265 |
6kW | $2.80 | $11,765 |
7kW | $2.77 | $13,597 |
8kW | $2.83 | $15,834 |
9kW | $2.71 | $17,095 |
10kW | $2.69 | $18,810 |
Best unit price
$320.00 ($0.96 per watt)
Best system price
Installed 5.0kW system
$12,721.85
($2.53 p/w)
LG335N1K-V5 overview
Rated power
335 watts
Efficiency
19.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$562.50 ($1.50 per watt)
Best system price
Installed 4.9kW system
$12,120.18
($2.49 p/w)
LG375A1C-V5 overview
Rated power
375 watts
Efficiency
21.7
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$430.00 ($1.15 per watt)
Best system price
Installed 4.9kW system
$12,919.30
($2.65 p/w)
LG375Q1C-V5 overview
Rated power
375 watts
Efficiency
21.7
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$473.34 ($1.30 per watt)
Best system price
Installed 5.1kW system
$13,231.07
($2.59 p/w)
LG365Q1K-V5 overview
Rated power
365 watts
Efficiency
21.1
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
KR
Best unit price
$432.00 ($1.20 per watt)
Best system price
Installed 5.0kW system
$13,276.66
($2.63 p/w)
LG360Q1K-V5 overview
Rated power
360 watts
Efficiency
20.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$530.85 ($1.50 per watt)
Best system price
Installed 5.0kW system
$12,386.87
($2.49 p/w)
LG355Q1K-V5 overview
Rated power
355 watts
Efficiency
20.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$495.00 ($1.38 per watt)
Best system price
Installed 5.0kW system
$13,091.06
($2.60 p/w)
LG360Q1C-V5 overview
Rated power
360 watts
Efficiency
20.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$407.97 ($1.10 per watt)
Best system price
Installed 5.2kW system
$13,159.30
($2.54 p/w)
LG370Q1C-V5 overview
Rated power
370 watts
Efficiency
21.4
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$323.39 ($0.97 per watt)
Best system price
Installed 5.0kW system
$12,691.01
($2.53 p/w)
LG335N1C-V5 overview
Rated power
335 watts
Efficiency
19.6
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$338.19 ($0.99 per watt)
Best system price
Installed 5.1kW system
$0.00
($0.00 p/w)
LG340N1C-V5 overview
Rated power
340 watts
Efficiency
19.8
Number of Cells
60
Cell type
Monocrystalline/N-type
Manufactured
US
Best unit price
$600.00 ($1.83 per watt)
Best system price
Installed 4.9kW system
$12,808.41
($2.61 p/w)
SPR-E20-327-COM overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$800.00 ($2.22 per watt)
Best system price
Installed 5.0kW system
$13,201.67
($2.62 p/w)
SPR-X22-360 overview
Rated power
360 watts
Efficiency
22.2
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$620.00 ($1.90 per watt)
Best system price
Installed 4.9kW system
$13,703.10
($2.79 p/w)
SPR-E20-327-D-AC overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$620.00 ($1.90 per watt)
Best system price
Installed 4.9kW system
$13,610.59
($2.77 p/w)
SPR-E20-327 overview
Rated power
327 watts
Efficiency
20.4
Number of Cells
96
Cell type
Monocrystalline
Manufactured
US
Best unit price
$181.00 ($0.60 per watt)
Best system price
Installed 5.1kW system
$11,003.04
($2.16 p/w)
CS6K-300MS overview
Rated power
300 watts
Efficiency
18.33
Number of Cells
60
Cell type
Monocrystalline
Manufactured
CA
Best unit price
$196.11 ($0.65 per watt)
Best system price
Installed 5.1kW system
$9,948.02
($1.95 p/w)
LR6-60-HPB-300M overview
Rated power
300 watts
Efficiency
18.1
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$172.00 ($0.56 per watt)
Best system price
Installed 4.9kW system
$9,568.53
($1.96 p/w)
LR6-60-HPB-305M overview
Rated power
305 watts
Efficiency
18.4
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$165.00 ($0.53 per watt)
Best system price
Installed 5.0kW system
$9,761.72
($1.97 p/w)
LR6-60-HPB-310M overview
Rated power
310 watts
Efficiency
18.7
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$228.00 ($0.60 per watt)
Best system price
Installed 4.9kW system
$9,579.65
($1.94 p/w)
LR4-60HPH-380M overview
Rated power
380 watts
Efficiency
20.9
Number of Cells
120
Cell type
Mono PERC
Manufactured
CN
Best unit price
$234.00 ($0.60 per watt)
Best system price
Installed 5.1kW system
$10,126.74
($2.00 p/w)
LR6-72HBD-390M overview
Rated power
390 watts
Efficiency
19.4
Number of Cells
144
Cell type
Mono PERC
Manufactured
CN
4.91 104 Reviews
Gene, 2 days ago
After reading the reviews and doing research, we decided to go with Sunergy. Before we signed a contract with them, we had multiple phone conversations with Brandon our sales rep. He answered every question and was quick to respond. The software they use to determine your cost is amazing. So far, so good.
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Gene, 2 days ago
After reading the reviews and doing research, we decided to go with Sunergy. Before we signed a contract with them, we had multiple phone conversations with Brandon our sales rep. He answered every question and was quick to respond. The software they use to determine your cost is amazing. So far, so good.
4.86 163 Reviews
Steven Dube, 1 week ago
The team at Mass Renewables was a pleasure to work with. From the early estimating and vetting process, through panel layouts, permitting, scheduling of the work, and everything else, the team did an exceptional job communicating and answering all of my questions. The quality, price, and timeliness of the work was great and I am happy with my system. Almost 2 years after the original install, my system has been underperforming a bit and the team is still working with me to troubleshoot an issue with two panels and potentially add an additional panel to help. All in all, I am impressed with Mass Renewables and would recommend them for your solar needs.
Read more
Average cost (5kW system)
$20,000 ($4.00 per watt)
Steven Dube, 1 week ago
The team at Mass Renewables was a pleasure to work with. From the early estimating and vetting process, through panel layouts, permitting, scheduling of the work, and everything else, the team did an exceptional job communicating and answering all of my questions. The quality, price, and timeliness of the work was great and I am happy with my system. Almost 2 years after the original install, my system has been underperforming a bit and the team is still working with me to troubleshoot an issue with two panels and potentially add an additional panel to help. All in all, I am impressed with Mass Renewables and would recommend them for your solar needs.
4.84 481 Reviews
C , 1 day ago
After buying our first home we found that our electric and heating bills were unfathomably high. On average we were using 1500kwh per month and were spending $1,200 to $1,500 per month for oil and electric and it was untenable so after 6 months in our home we decided to look into Solar. The ecofriendly benefits were a bonus but realistically we desperately needed to stabilize our electric cost. I like to get as much information as possible to make the most financially sound decision and get the most bang for my buck. The first go around we received many quotes through Energy Sage, did a ton of research, and ultimately met with 8 different solar reps to review their proposals. We were pleased to learn that our house was somewhat of a golden goose for solar so we encountered so really aggressive salespeople who were promising the moon and 120% production estimates. Outside of the scheduled meetings we were getting doorknockers from newer companies frequently (sometimes multiple times per day) so it was important for me to find a company that had an established history in the business, were transparent, and realistic. Of all of the people we met with Molly Verville from All Energy Solar was the only one to tell me that it would be disingenuous to give us a production guarantee based on 6 months of electric usage data, recommended that we consult with an electrician, change our energy supplier, and prioritize weatherizing our home so that we can get a more accurate proposal. She gave one of the more conservative production estimates and actually raised some concerns about the impact that unnecessarily high production could have on our net metering credits due to some unimplemented legislative changes. I had a ton of questions and she knew her stuff. I never felt like she was trying to obfuscate or that she was just trying to make a quick sale which was a breath of fresh air. We followed her recs which were helpful and 6 months later we decided that buying solar panels still made the most sense and we had more reliable data to work from with updated proposals. We decided to go with All Energy knowing that we may be paying a bit more but would be getting top tier service. After signing our contract we were assigned to work with Carlo Maloni who was a great advocate for us through the process. He kept in communication with us with calls and emails every two weeks to keep us in the loop, ensured that if he didn’t know the answer to a question that he would get us in touch with someone who did, and made sure that we knew ahead of time if there were any potential delays. He coordinated a seamless transition of our project to his manager Annalise for the 2 months while he was on paternity leave, and when he came back he picked things up with us right were we left off fully up to speed. Our panels have been on for almost two months and they were so proactive with startup monitoring that in the first couple of weeks they identified a minor issue before I was even aware of it and their electrician Mike came over the same day to make sure it was fixed. So far our production has been exceeding our consumption and it the monitoring app has been extremely useful for us to be able to identify what is still contributing to high usage. Overall, working with him and everyone from All Energy made this a painless process. I am really happy we chose All Energy and I would wholeheartedly recommend them to anyone looking to switch to solar.
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C , 1 day ago
After buying our first home we found that our electric and heating bills were unfathomably high. On average we were using 1500kwh per month and were spending $1,200 to $1,500 per month for oil and electric and it was untenable so after 6 months in our home we decided to look into Solar. The ecofriendly benefits were a bonus but realistically we desperately needed to stabilize our electric cost. I like to get as much information as possible to make the most financially sound decision and get the most bang for my buck. The first go around we received many quotes through Energy Sage, did a ton of research, and ultimately met with 8 different solar reps to review their proposals. We were pleased to learn that our house was somewhat of a golden goose for solar so we encountered so really aggressive salespeople who were promising the moon and 120% production estimates. Outside of the scheduled meetings we were getting doorknockers from newer companies frequently (sometimes multiple times per day) so it was important for me to find a company that had an established history in the business, were transparent, and realistic. Of all of the people we met with Molly Verville from All Energy Solar was the only one to tell me that it would be disingenuous to give us a production guarantee based on 6 months of electric usage data, recommended that we consult with an electrician, change our energy supplier, and prioritize weatherizing our home so that we can get a more accurate proposal. She gave one of the more conservative production estimates and actually raised some concerns about the impact that unnecessarily high production could have on our net metering credits due to some unimplemented legislative changes. I had a ton of questions and she knew her stuff. I never felt like she was trying to obfuscate or that she was just trying to make a quick sale which was a breath of fresh air. We followed her recs which were helpful and 6 months later we decided that buying solar panels still made the most sense and we had more reliable data to work from with updated proposals. We decided to go with All Energy knowing that we may be paying a bit more but would be getting top tier service. After signing our contract we were assigned to work with Carlo Maloni who was a great advocate for us through the process. He kept in communication with us with calls and emails every two weeks to keep us in the loop, ensured that if he didn’t know the answer to a question that he would get us in touch with someone who did, and made sure that we knew ahead of time if there were any potential delays. He coordinated a seamless transition of our project to his manager Annalise for the 2 months while he was on paternity leave, and when he came back he picked things up with us right were we left off fully up to speed. Our panels have been on for almost two months and they were so proactive with startup monitoring that in the first couple of weeks they identified a minor issue before I was even aware of it and their electrician Mike came over the same day to make sure it was fixed. So far our production has been exceeding our consumption and it the monitoring app has been extremely useful for us to be able to identify what is still contributing to high usage. Overall, working with him and everyone from All Energy made this a painless process. I am really happy we chose All Energy and I would wholeheartedly recommend them to anyone looking to switch to solar.
4.84 216 Reviews
Stephen, 4 weeks ago
Great information from the designers showing us how it all will work for us. Great people to work with very knowledgeable in there field. The installation went great with the crew very good information again very professional.
Read more
Average cost (5kW system)
$20,050 ($4.01 per watt)
Stephen, 4 weeks ago
Great information from the designers showing us how it all will work for us. Great people to work with very knowledgeable in there field. The installation went great with the crew very good information again very professional.
4.83 71 Reviews
John Doe, over 1 month
Couldn't be happier with the results. We chose to install panels and the solar battery and its been great. The NEC Solar staff were friendly and polite when installing and seem to have done a great job. We have had some rough storms and everything has been fine. The support after installation has also been great. I had to reach out to them earlier this year (over a year after installation) as I had a leak through the roof and was instructed to contact the solar company as they may have damaged the roof. The team came out within a day and went onto the roof and confirmed everything looked fine (and that it was actually the area around the chimney which looked like the culprit). A roof company came and repaired the chimney which had nothing to do with the installation from NEC Solar. We didn't have the panels installed until fall of 2022 so we didn't see much of a result (which was expected). In 2023, my electric bill was 0 from April-November. My entire house runs on electricity and I work from home and am using lots of electricity. The solar battery also works very well. There was a storm earlier this year knocked out the power lines and we had no power for almost a whole day and we didn't experience any effects in our house as the battery system immediately kicked in. Lastly, I love that I can view the solar production and manage the battery through the website/app. Very convenient. Whatever your reasons--be it environmental or to save a ton of money (my reasons) or some other reason, go with a local company like NEC Solar--I highly recommend!
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John Doe, over 1 month
Couldn't be happier with the results. We chose to install panels and the solar battery and its been great. The NEC Solar staff were friendly and polite when installing and seem to have done a great job. We have had some rough storms and everything has been fine. The support after installation has also been great. I had to reach out to them earlier this year (over a year after installation) as I had a leak through the roof and was instructed to contact the solar company as they may have damaged the roof. The team came out within a day and went onto the roof and confirmed everything looked fine (and that it was actually the area around the chimney which looked like the culprit). A roof company came and repaired the chimney which had nothing to do with the installation from NEC Solar. We didn't have the panels installed until fall of 2022 so we didn't see much of a result (which was expected). In 2023, my electric bill was 0 from April-November. My entire house runs on electricity and I work from home and am using lots of electricity. The solar battery also works very well. There was a storm earlier this year knocked out the power lines and we had no power for almost a whole day and we didn't experience any effects in our house as the battery system immediately kicked in. Lastly, I love that I can view the solar production and manage the battery through the website/app. Very convenient. Whatever your reasons--be it environmental or to save a ton of money (my reasons) or some other reason, go with a local company like NEC Solar--I highly recommend!
4.79 79 Reviews
Janet W, over 1 month
My family and I have wanted to install solar on our home for years, but unfortunately were never able to do so until our recent move. Our new home is perfectly situated for solar, so I started searching for a solar company in the tail end of December 2023. I wound up with two options, one of which was SavKat Solar, and made appointments with both companies. Jay from SavKat came out to our house on 12/26/2023 and spent several hours explaining EVERYTHING to me in great detail. He reviewed whether or not my house was a good fit for solar and why, then went over the different system sizes that are available and the warranties that go with each one. He explained the entire installation process from start to finish, including how long each of the steps in the process usually takes, and worked with me to figure out how many panels my family and I would need, as well as what the best location for each panel would be. He was open and honest about pricing and repayment options, and thoroughly answered and addressed each and every one of my questions and concerns. And when my daughter came home from work, he even spent extra time explaining everything to her! Neither one of us felt rushed or pressured into making a decision. He made us both feel extremely comfortable about asking him questions, and made sure that we understood everything. He told us to reach out to him with any questions we thought of after he left, and even e-mailed us all of the information that he spoke with us about so that we could review it and make a decision in our own time. Talk about service! I can't say the same about the other company. Jay also invited us to take a tour of the SavKat facilities, which I did on 1/3/2024. While there, I met multiple employees - including the owner - who were not only kind, but also quick to answer all of the questions that I had as well. After talking things over with my family, we decided to request an additional 3 panels so that we could be sure that we had enough wattage, and both Jay and the employees at SavKat were more than willing to accommodate our request. We signed a contract with them that day. Each and every step of the entire project happened faster than Jay had led us to expect, part of which might have been due to the fact that not a lot of people install solar in the beginning of the year. When the solar panels themselves were installed, every one of the employees were nice, quick, and efficient, and everything was explained to my family and I after it was done. Our new electric meters were installed today, so I'm hoping that we'll get permission to operate tomorrow. I can't say enough wonderful things about everyone at SavKat, especially Jay. Every time I've reached out to Jay, even when he was on a business trip, he has been extremely responsive, no matter how small my question might seem, and I was never once spoken down to or made to feel like I should know something that I didn't. If I could work with SavKat forever, I would. I wish more companies were as amazing as they are!
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Janet W, over 1 month
My family and I have wanted to install solar on our home for years, but unfortunately were never able to do so until our recent move. Our new home is perfectly situated for solar, so I started searching for a solar company in the tail end of December 2023. I wound up with two options, one of which was SavKat Solar, and made appointments with both companies. Jay from SavKat came out to our house on 12/26/2023 and spent several hours explaining EVERYTHING to me in great detail. He reviewed whether or not my house was a good fit for solar and why, then went over the different system sizes that are available and the warranties that go with each one. He explained the entire installation process from start to finish, including how long each of the steps in the process usually takes, and worked with me to figure out how many panels my family and I would need, as well as what the best location for each panel would be. He was open and honest about pricing and repayment options, and thoroughly answered and addressed each and every one of my questions and concerns. And when my daughter came home from work, he even spent extra time explaining everything to her! Neither one of us felt rushed or pressured into making a decision. He made us both feel extremely comfortable about asking him questions, and made sure that we understood everything. He told us to reach out to him with any questions we thought of after he left, and even e-mailed us all of the information that he spoke with us about so that we could review it and make a decision in our own time. Talk about service! I can't say the same about the other company. Jay also invited us to take a tour of the SavKat facilities, which I did on 1/3/2024. While there, I met multiple employees - including the owner - who were not only kind, but also quick to answer all of the questions that I had as well. After talking things over with my family, we decided to request an additional 3 panels so that we could be sure that we had enough wattage, and both Jay and the employees at SavKat were more than willing to accommodate our request. We signed a contract with them that day. Each and every step of the entire project happened faster than Jay had led us to expect, part of which might have been due to the fact that not a lot of people install solar in the beginning of the year. When the solar panels themselves were installed, every one of the employees were nice, quick, and efficient, and everything was explained to my family and I after it was done. Our new electric meters were installed today, so I'm hoping that we'll get permission to operate tomorrow. I can't say enough wonderful things about everyone at SavKat, especially Jay. Every time I've reached out to Jay, even when he was on a business trip, he has been extremely responsive, no matter how small my question might seem, and I was never once spoken down to or made to feel like I should know something that I didn't. If I could work with SavKat forever, I would. I wish more companies were as amazing as they are!
4.77 81 Reviews
Janet H., over 1 month
From start to finish this was an exceptional process. It was a throwback to a time when customer service was all about the customer. We were kept informed every step of the way, called if there was a delay for any reason, work was done timely, staff were more than competent and I was completely comfortable having them in and on my home. The work area was always cleaned before they left for the day. It was so refreshing to work with a company that does quality work, with quality products and cares about the client experience from start to finish.
Read more
Average cost (5kW system)
$18,600 ($3.72 per watt)
Janet H., over 1 month
From start to finish this was an exceptional process. It was a throwback to a time when customer service was all about the customer. We were kept informed every step of the way, called if there was a delay for any reason, work was done timely, staff were more than competent and I was completely comfortable having them in and on my home. The work area was always cleaned before they left for the day. It was so refreshing to work with a company that does quality work, with quality products and cares about the client experience from start to finish.
4.76 307 Reviews
Very Happy Customer, 4 weeks ago
New England Clean Energy Clean, courteous, hard working and meticulous are only a few ways to describe installation crew that professionally installed my families PV solar system on our home. My wife and I were hesitant to make such a drastic change and investment to our home but New England Clean Energy made it a pressure free experience and we have been ecstatic with our decision. We met with over a dozen solar companies and many proved they would not be able to meet our high standards. From Mark in sales to the site supervisor JJ, New England Clean Energy proved they were right choice and delivered as promised!
Read more
Average cost (5kW system)
$21,450 ($4.29 per watt)
Very Happy Customer, 4 weeks ago
New England Clean Energy Clean, courteous, hard working and meticulous are only a few ways to describe installation crew that professionally installed my families PV solar system on our home. My wife and I were hesitant to make such a drastic change and investment to our home but New England Clean Energy made it a pressure free experience and we have been ecstatic with our decision. We met with over a dozen solar companies and many proved they would not be able to meet our high standards. From Mark in sales to the site supervisor JJ, New England Clean Energy proved they were right choice and delivered as promised!
4.76 65 Reviews
Susan S., 1 day ago
Exceptional customer service and professionalism throughout the entire process. We are thrilled with the quality of the work and product, long term savings, and positive environmental impact.
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Susan S., 1 day ago
Exceptional customer service and professionalism throughout the entire process. We are thrilled with the quality of the work and product, long term savings, and positive environmental impact.
4.73 583 Reviews
Klensi, 3 days ago
I’m happy with the service and everything going good till now
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Klensi, 3 days ago
I’m happy with the service and everything going good till now
Where there is no specific pricing information available for a brand then we have used state pricing data for that brand.
Solar panel manufacturer | Avg. cost per watt |
---|---|
Canadian Solar | $2.61 |
LG Solar | $3.11 |
SunPower | $3.27 |
Panasonic | $3.15 |
LONGi Solar | $2.52 |
The most important difference between buying solar panels and any other purchase is that solar panels last 25-30 years. This is a long, long time and you will need customer service over all that time. The reviews below of the two largest corporate solar installation companies indicate larger corporate solar companies are not delivering this support to their customers.
We recommend you find a small or mid-size, local, family-owned solar company. These companies tend to care more about you and your specific job. You don't want to be on hold to a corporation's call center for the next 25 years!
The cost of solar doesn't just include the equipment and installation costs - it’s also made up of permitting costs, inspection costs, and installer profit margins.
These different components are what make the price of solar fluctuate between installations. Some of the factors that affect solar power system installation costs for specific homes include:
Homes that use more electricity will need more solar panels to cover their energy needs.
Although solar panels do get cheaper on a per-watt basis, the overall cost of the system will increase as more panels are added.
But, the higher a home’s energy usage, the more solar panels can save the homeowners on their energy bills.
The price of solar panels can vary depending on the type of solar panels you choose.
There are two main types of solar panels for residential solar installations: monocrystalline and polycrystalline. Monocrystalline solar panels tend to be more efficient and more expensive than other solar panels. Polycrystalline panels have a lower efficiency rating and come at a lower price point.
The type of inverter you buy will also influence the cost of your solar system.
You may see some solar quotes with prices that seem too good to be true.
If you get quoted for a ridiculously cheap price, the installer might be using low-quality equipment or an unsustainable pricing model. You want to use a solar installer that is charging enough so that they can stay in business - as you’ll be relying on them for the next 25 years!
It’s important to make sure that your installer is giving you the best quality at the best price possible. This is why getting multiple solar quotes is so important.
The overall cost of solar can be influenced by the solar incentives available.
Across the U.S., homeowners can apply for the federal solar tax credit. The solar tax credit makes installing solar more cost-effective by providing homeowners with a tax credit equal to 30% of the cost of their installed solar panel system.
Local solar tax incentives and rebates can end up saving homeowners thousands on a solar installation, especially when they’re used with the federal solar tax credit.
See what solar incentives are available in your area by using our solar panel calculator.
The cost of installing residential solar panels in Medford varies with the brand of solar panels and inverters you choose, the installation company you choose to install them, the relative ease or difficulty of installing solar panels on your home, and of course the amount of solar panels you need. The amount of solar panels you need is, in turn, related to your energy usage.
The table below shows the data extracted from a real life quote delivered through the SolarReviews marketplace recently for a fairly typical home in Medford.
As you can see the payback period is relatively short and equates to a much better return on investment than he historical returns that have been available from investing in things like shares or property.
System information | Value |
---|---|
System Size (for 100% usage offset) | 7.97 kW |
Annual power generation | 12,588 kWh |
Pay-back time (assuming Cash purchase) | 7.9 Years |
Internal rate of return (IRR) on investment | 9.3% |
Gross cost | $18,351 |
Total Upfront Incentives and Rebates | -$4,771 |
Net Cost of System after rebated and incentives | $13,578 |
Total Cost of Utility Power Avoided over 25 years | $49,310 |