Best 5 Solar Companies in Peabody, MA

How To Choose the Best Solar Company in Peabody

The purchase price and effectiveness of solar panels often depend on the provider that mounted them. Here are some essential aspects to bear in mind while searching for a solar provider.

Licensing and Training

Massachusetts requires new solar PV systems in the Commonwealth to be installed by a licensed electrician and new solar water heaters to be installed by a construction supervisor. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, backed by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.

Cost of Solar Panels in Peabody

The type of solar panels you purchase determines how much power you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.

If you need to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your system more efficient and user-friendly. Not every solar contractor provides these add-ons, so look for a company that sells them if it's important for you.

You can expect to pay about $20,300 on average for a five-kilowatt solar energy system in Peabody. Use the table in this section to get an idea of what amount Peabody solar companies might quote for your specific solar system's price.

Financing Solar Energy in Peabody

There are many ways to pay for a new solar system, and the right one will help you decrease overhead. A few of the most common options include loans, power purchase agreements (PPAs), cash payments, and leases. We recommend paying with cash or using a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate based only on the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the solar system and cannot use solar incentives. We suggest working with a contractor that offers multiple financing options. Speak with each salesperson about what's available, and secure more than one estimate for the best odds of keeping within your budget.

The table below lists the average payback periods for different capacities of solar systems in Peabody.

The IRS allows you to claim a 26% federal solar tax credit on total system costs, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.