What Solar Really Costs
in Massachusetts
Every day more people ask,
“What does solar
really cost?”
This ebook answers that question. It also gives
three reasons why – crazy as it sounds – it
doesn’t actually matter what solar costs,
as long as the system is designed to
meet your individual electricity needs.
What Solar Really Costs in Massachusetts 2
Typical Solar System Price
The U.S.
government
slashes
almost $8,000
from the
starting price.
A residential solar energy system in Massachusetts
generally starts around $20,000 - $35,000. Here’s an
example of pricing for a typical system on a pretty good roof.*
Starting Price
$26,631
30% Federal Tax Credit
$7,989
State Tax Credit
$1,000
Net Price
= $17,642
*Based on a 7,320-watt system with 24 standard 305-watt panels in National Grid’s Massachusetts territory,
roof TSRF (solar-friendliness) 80% of ideal, monthly electricity usage 800 kWh, electric rate $0.21 per kWh
inflated at 3.9% annually, annual solar production 7,730 kWh, SMART rate $0.11 per kWh, 15-year loan at
6.99% interest rate and Same-As-Cash portion.
What Solar Really Costs in Massachusetts 3
But Wait, There’s More
That adjusted price is then “paid back” to you through electric
bill savings and “SMART” income. The amount of those benefits
over 25 years is far greater than the system’s price:
Net Price
$17,642
Electricity Savings
$60,627
SMART Income
Net Savings & Earnings
$8,409
= $51,394
This is your
financial benefit
after the system
pays for itself.
What Solar Really Costs in Massachusetts 4
What If I Sell My Home?
Not planning to stay in your home that long? That’s OK.
Solar energy systems have proven to increase home
value and decrease re-sale time. In our example,
the home’s value increases by $25,620.
But since you only see that additional value if you
sell your home, it is not included in the numbers
on pages 3 and 4.
What Solar Really Costs in Massachusetts 5
Why It Doesn’t Matter
What Solar Costs
If those numbers sound good to you, contact us today
to get your free proposal detailing what solar will save
and earn for you.
If you’re still not sure, read on because it
really doesn’t matter what your solar costs.
There are three reasons why.
What Solar Really Costs in Massachusetts 6
1
You Already Have
the Money
Do Nothing
Solar Loan
Solar Purchase
If you keep buying all your electricity from
the utility, you’ll spend more than you need
Your Benefit
$40,511
for solar. That’s right. Your existing electricity
$51,394
budget is more than enough to cover the
cost of solar.
Your Benefit
Electricity Cost
$72,437
With solar, the cost of your system plus
what you pay the utility is far less than
what you were paying. So if you’re able
to pay your electric bill, you’re probably
able to afford solar.
System Cost
$20,116
System Cost
$9,233
Electricity Cost
Electricity Cost
$11,810
$11,810
Over 25 years. Purchase system cost is Net Price minus SMART Income.
What Solar Really Costs in Massachusetts 7
2
You Can Afford the
Monthly Loan Payment
It’s safe to say you can probably afford the monthly
WITHOUT WITH
SOLAR
SOLAR
payment if you go solar with a loan. Here’s why.
In our example, your monthly electric
bill averages $255 today. With solar,
your expense drops to $158 – that’s
Payment to Electric Company
$255
Loan Payment to Bank
$68
$160
$97 less a month!
Solar Electricity
$0
Your actual savings may be more or
SMART Income
$70
less than $97, but you will most likely
Total Monthly Expense
spend less than you’re spending now.
Monthly Profit
$255
$158
$0
$97
What Solar Really Costs in Massachusetts 8
3
Solar Pays for Itself
Regardless of your solar energy system’s price, it will pay for
itself through electric bill savings and green income in
roughly 6 to 12 years, depending on your situation.
What other purchase or home improvement does that?
Cars only cost us money and houses can be money pits.
Even if your solar takes 15 years to pay for itself, that’s
still better than NEVER, which is when most purchases
pay you back.
(If you finance solar with a loan, it’s “paid for” when you make your
final loan payment to the bank.)
What Solar Really Costs in Massachusetts 9
Now you know what solar
really costs
Remember:
• The initial price is slashed by the 30% federal tax credit
and state tax credit.
• You’ll pay less for electricity with solar than without it,
even if you finance with a loan.
• You already have the money. Simply shift your existing
electricity budget over to your own clean solar.
Is it your turn to go solar and join the thousands in
New England already saving with solar?
Contact us today to get started.
What Solar Really Costs in Massachusetts 10
important sidenote
Please don’t confuse “it doesn’t matter what
solar costs” with “it doesn’t matter which
proposal or company I choose.” Your choice
of installer matters a lot.
The old saying is true: You get what you pay for.
Read more here on our Energy Miser blog.
What Solar Really Costs in Massachusetts 11