Cost of solar in Haverhill, MA
Electricity Consumption in Haverhill
Electricity Consumption by Massachusetts residents averages 627 kWh per month. It ranks #3 in the nation for savings from installing solar panels on the home.
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Solar power in Haverhill, Massachusetts
National grid provide an SREC and a net metering program for their solar customers in Haverhill. Net metering credits unused solar generation sent to the grid at the retail rate for power. 1kWh sent to the grid cancels out the cost of another drawn from the grid at a later time and you are only billed or credited for the net of these two amounts. After covering the cost energy drawn from the grid each kWh is still credited at the retail value and may be carried over indefinitely to future bills. You may elect to have your utility pay you for excess credits.
National Grid will also pay you for your SREC's. The state of Massachusetts mandates that utilities must source a percentage of their energy from solar power otherwise they are fined. Each Solar Renewable Energy Certificate (SREC) is evidence of 1mWh of solar production. A common 5kW system will produce about 6mWh per year and with SREC's valued at about $270 that's $1,350 in your pocket in the first year. SREC prices as the fines are slowly lowered will reduce by about $15 per year however, this will still but about $14,000 in your account over the life of your system.
Haverhill residents and business owners may also use the state tax credit of 15% of total costs up to $1,000. After subtracting your state tax credit 30% of the remaining costs can be claimed as a deduction to federal taxes. The federal solar tax credit may be spread over several years and will always cover 30% of costs no matter how large the system. Incentives like these are a rare sight to still see and must not be taken for granted as they will surely not get any better than they are now!
Enter your zip code bellow to work out how many panels you need, how long your system will take to pay itself off and what incentives are available!
Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:
- How many solar panels you need to cover your power bill;
- How suitable your house is for solar;
- What incentives your house may be eligible for;
- The cost of solar panel installation in Haverhill and whether you are eligible for zero down solar deals; and
- Your likely payback period and return on investment from installing solar
Estimate your solar savings
The average cost of installing residential solar panels in Haverhill, Massachusetts in 2018 is $3.68 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Haverhill, MA is $18,400. (before claiming 30% tax credit and other rebates)
What does the cost of a real solar system look like?
Facts about installing a 2.91kW solar system in Haverhill, MA
This system would offset 100% of your energy usage if your typical monthly bill is $74, however your situation may vary so try our solar calculator to get a result tailored to you.
$7,448
Net cost of system
Cash - after 30% solar tax credit
4 Years 9 Months
Average payback time
3,288
kWh
Annual power production
9¢
/kWh
levilized cost of solar energy
48¢
/kWh
If you don't get solar
The forecast average utility price over the next 25 years
Cash flow graph based on cash purchase of this 2.91kW system
Life-time savings on this system over the next 25 years
$34,651
(Prices shown after repayments of capital)
Solar companies in Haverhill, MA that provide pricing through the Solar-Estimate marketplace
47
Average total cost of solar panel installation in Massachusetts
| System Size | Cash purchase After 30% solar tax credit |
Financed purchase After 30% solar tax credit |
|---|---|---|
| 3kw | $8,379 | $9,049 |
| 4kw | $10,892 | $11,763 |
| 5kw | $13,265 | $14,326 |
| 6kw | $15,456 | $16,692 |
| 7kw | $17,542 | $18,945 |
| 8kw | $19,488 | $21,047 |
| 9kw | $21,231 | $22,929 |
| 10kw | $22,890 | $24,721 |
Design your own solar panel system for your home
Going solar in Massachusetts
Check out all of the ways energy providers of Massachusetts can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Residential Renewable Energy Income Tax Credit | State | Personal Tax Credit |
| Transitional SRECII program with a .8 SREC factor @$230 per SREC, equivalent to an incentive of $0.18 per kwh. (New SMART Incentives will be equivalent to around $0.10 per kwh when implemented | State | SREC II program transitioning to SMART program |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.