Is $52,890 to install a 17.63 kW solar energy system a fair price?
Project Details
I'm struggling with the decision to get solar now or wait to see what happens with prices and the overall industry after the tax credit is gone next year. I have an ideal setup with a large south-facing roof. My total electricity usage for my primary home and three investment properties in 2024 was 16,860 kWh, and this system on my primary home would cover all four of our bills. It really seems like a no-brainer, but I'm trying to figure out what I'm missing here.
Quote Details
This quote is for a cash purchase of a solar energy system designed to cover the total electricity usage of four properties. - System Size: 17.63 kW - Estimated Year One Production: 17,966 kWh - Total Investment: $52,890 - Federal Tax Credit (30%): -$15,867 - MA State Tax Credit: -$1,000 - Net Investment After Tax Credits: $36,023 - Projected 25-Year Savings: Based on a 5% annual increase in National Grid rates - Class I REC Income: Approximately $510 per year (paid quarterly) - Payback Period: Under 6 years - Year One ROI: 18.1% (($6,016+$510)/$36,023) - Financing Option (example): 5.99% over 10 years, resulting in a monthly payment of $399.75 after tax credits - Workmanship Warranty: 15 years - Roof Penetration Warranty: 15 years - Panel Manufacturer Warranty: 25 years - Inverter Warranty: 12 years (25-year extended warranty recommended)
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More Details
Category
Solar
Price
$52,890
Quote Date
June 5, 2025
Location
Massachusetts
System Size (kW)
17.63
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