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Best 5 Solar Companies in Peabody, MA

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Written By Max Peterson|Last Updated: February 05, 2024

The Peabody community is committed to safeguarding the planet and embracing sustainability. That includes embracing alternative energy sources like solar. If you're thinking about going solar, you might be concerned about costly initial investments. By working with a knowledgeable installer, you'll have both the financial and practical support you need for a smooth transition. In this guide, we'll showcase Peabody's best solar providers and offer advice for your company choice, so you can find the right one for your household.

Best High-Efficiency System
4.8
  • Builds custom, high-efficiency solar systems suited to each home
  • Extensive coverage area throughout the country
  • Offers energy storage and EV charger add-ons
Best Solar Panel Leasing
4.4
  • Provides system monitoring
  • Offers diverse financing options for various budgets
  • Provides EV and solar battery solutions
Best Solar Panel Installation
4.4
  • Offers 7 panel brand options
  • 25-year workmanship warranty
  • Offers battery options

Top Peabody Solar Companies

Sunrun Fusion New England Logo

Sunrun Fusion New England

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4.0/5
Based on 18 customer reviews.

Services Offered

Cleaning And MaintenanceSkilled RepairsBattery StoragePermit AssistanceConsultationGrid-Tied Solar SystemPanel Installation

Highlights

  • Clear pricing policy
  • Reliable customer support
  • Free quotes
420 S Washington St Suite 6, North Attleborough, MA 508-372-8582 sunrun.com
ReVision Energy Logo

ReVision Energy

4.6/5
Based on 73 customer reviews.

Services Offered

ConsultationPanel InstallationFinancing AssistanceCommunity Solar ProjectsBattery StorageCleaning And Maintenance

Highlights

  • Clear pricing policy
  • Prompt service delivery
  • Reliable customer support
1980 Turnpike St Ste 2, North Andover, MA 978-308-9041 revisionenergy.com
Future Energy Solar Logo

Future Energy Solar

4.6/5
Based on 74 customer reviews.

Services Offered

Panel InstallationPermit AssistanceFinancing Assistance

Highlights

  • Reliable customer support
  • Clear pricing policy
  • Informative resources
21 Olympia Ave Unit V, Woburn, MA 781-960-7005 futureenergysolar.com
Boston Solar Logo

Boston Solar

5/5
Based on 1,280 customer reviews.

Services Offered

Panel InstallationFinancing AssistanceConsultationBattery Storage

Highlights

  • Informative resources
  • Clear pricing policy
  • Free quotes
12 Gill St #5650, Woburn, MA 617-648-5601 bostonsolar.us

More Local Solar Companies

CommonWealth Energy

User Reviews: 4.4/5 

84 Newbury St
Peabody, MA 01960

Sunbug Solar

User Reviews: 4.5/5 

2A Draper St
Woburn, MA 01801

Brightway Energy

User Reviews: 4.7/5 

165 Middlesex Ave
Somerville, MA 02145

Bright Home Solutions, Inc.

User Reviews: 4.6/5 

240 Andover St 2nd Floor
Wilmington, MA 01887

Viridis Energy Solutions

User Reviews: 4.3/5 

171 Merrimac St
Woburn, MA 01801

EnergySage

User Reviews: 5/5 

3 Center Plz
Boston, MA 02108

Team Sunshine Construction, LLC.

User Reviews: 4.4/5 

24 Spice St
Boston, MA 02129

GOSO Technologies

User Reviews: 4.7/5 

75 State St Suite 100
Boston, MA 02109

NuWatt Energy

User Reviews: 4.0/5 

400 Tradecenter Dr Ste 5900
Woburn, MA 01801

To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.

Ranking Methodology

Our team has carefully researched dozens of solar contractors near Peabody, concentrating on the following criteria:

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Facts about Peabody
Average Max Temp:55°F
Solar Payback Period:9.8 years
Average Daily Sunlight:55%
Homes Powered by Solar:4,771
Average Annual Energy Bill:$1,400
Solar Power per Capita Percentile:48.0%

Expert Tips By

This Old House empowers homeowners with the knowledge and tools they need to tackle various projects and navigate the complexities of homeownership.

Benefits of Solar Energy

Solar energy has several advantages that will enhance your home for years to come.

  • Lowered energy bills: You can skip the premium cost of grid-tied power by creating some electricity at home.
  • Better energy independence: Solar energy can keep your home powered through blackouts and emergencies. You can use your solar energy anytime with an optional battery backup system.
  • Reduced carbon footprint: Embracing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.

What Solar Incentives Are Available to Peabody Homeowners?

Governments and power companies often incentivize homeowners for going solar. Here are some of the rebates, tax credits or other programs you could qualify for.

Incentive Type: Property Tax Incentive

Website: in.gov

Incentive Amount:

Solar energy systems used for heating or cooling: out-of-pocket expenditures by the owner for the components and labor
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system

Incentive Type: Personal Tax Credit

Incentive Amount:

15%

Incentive Type: Sales Tax Incentive

Website: mass.gov

Incentive Amount:

100% exemption

Incentive Type: Industry Recruitment/Support

Incentive Amount:

100% deduction

Incentive Type: Rebate Program

Website: capelightcompact.org

Incentive Amount:

Appliances
Refrigerator and Freezer Recycling: $125
Electric Clothes Dryers: $50
Clothes Washer: $350
Dehumidifiers: $30
Room Air Purifiers: $40
Room Air Conditioner: $40

Heating & Cooling
Oil Heating System: Up to $800
Propane Heating Equipment: Up to $2,300
Oil Water Heater: Up to $400
Propane Water Heater: Up to $800
Heat Pump Water Heater: Up to $600
Central AC/Heat Pump: Up to $250/ton
Mini-Split Heat Pump: Up to $250/ton
Programmable Thermostats: Up to $25
WiFi Thermostat: Up to $100
Solar Domestic Hot Water heater: $500 - $1,500

Home Electronics
Advanced Power Strips: Varies

Home Insulation
Limited Time Enhanced Incentive: 75%
Year-Round Tenant Incentive: 100%
Enhanced Residential Program: 100%

Lighting
LEDs: Varies

Home Energy Assessment: Free

Incentive Type: Loan Program

Website: masssave.com

Incentive Amount:

$25,000 ($50,000 for some expanded HEAT offerings)

Incentive Type: Performance-Based Incentive

Website: masmartsolar.com

Incentive Amount:

(Base compensation rate + compensation rate adders - greenfield subtractor) * total kWh generated - value of energy generated

Incentive Type: Loan Program

Website: masssolarloan.com

Incentive Amount:

Maximum required: $35,000; maximum possible: $60,000

Incentive Type: Rebate Program

Website: masscec.com

Incentive Amount:

New GSHP Rebate: $2,000 per ton with adders to eligible applicants
Retrofit Existing GSHP Rebate: varies with installation costs

Incentive Type: Rebate Program

Website: masscec.com

Incentive Amount:

Standard Residential:
Pellet Stove: $1,000 - $1,750
Catalytic Woodstove: $750 - $1,250
Non-Catalytic Woodstove: $500-$1,250

Fully Automated Wood Stove: $1,500 - $1,750
Low-Income Residential:
Pellet Stove: $2,500 - $3,250
Catalytic Woodstove: $2,250 - $2,750
Non-Catalytic Woodstove: $2,000-$2,750
Fully Automated Wood Stove: $2,750 - $3,250

Incentive Type: PACE Financing

Incentive Amount:

Financing amount locally determined; 20-year financing term

Incentive Type: Solar Renewable Energy Credit Program

Website: mass.gov

Incentive Amount:

Varies, depending on market supply and demand

Incentive Type: Rebate Program

Website: munihelps.org

Incentive Amount:

Varies by utility

Incentive Type: Personal Tax Credit

Website: ecowatch.com

Incentive Amount:

30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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

Your photovoltaic panels' type will influence how much electricity you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.

You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can boost your solar system's efficiency. Not every solar contractor offers these extras, so look for a contractor that installs them if it's a priority 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 system.

Solar Panel CostAverage Cost
Solar Monocrystalline$1,241
Solar Polycrystalline$968
Thin-Film$566
Solar Battery$794
Solar Home EV Charger$2,978

Financing Solar Energy in Peabody

There are a plethora of ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include leases, power purchase agreements (PPAs), cash payments, and loans. Though it requires a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. Ask each provider you're evaluating about the payment options it offers. A salesperson can help you determine the most suitable option for your financial situation.

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 tax credit on your new solar panels, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.

Solar System CapacityEstimated Payback period
1 kW2.0 years
2 kW3.9 years
5 kW9.8 years
10 kW19.6 years

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Frequently Asked Questions About Solar in Peabody

How much energy and money could I save per year by switching to solar?

Most Peabody homeowners spend about $1,400 on energy each year. Your costs could drop by $1,124.37 for each kilowatt you generate after you pay off a solar array.

Is solar energy readily available in Peabody?

Yes, solar energy is reaching new heights in Peabody. Some homes already benefit from solar power on-site or through utility grids, and they're backed by a state solar economy with 10400 job opportunities and counting.

Will solar panels boost my Peabody home price?

Yes, new solar systems translate to higher property values according to the National Renewable Energy Laboratory (NREL.) Homeowners could project a $20 property value increase for each dollar they save on energy. Therefore, $600 in energy savings could increase your home's value by $12,000.

What is a Peabody solar panel's average lifespan?

Today's solar systems are impressively durable, lasting up to 25 years. Monocrystalline options and other top-tier models tend to live longer than cheaper models.

What's the average solar system size in Peabody?

A typical Peabody solar home has a 4.2-kW panel array, but you might need a bigger system if your energy needs are higher. Solar experts will evaluate your property's energy consumption and roof shading to suggest the appropriate system for you.

How long does it take to pay back a solar loan in Peabody?

The average payback period for a solar loan in Peabody is 12.6 years. By paying off extra principal each month, you can shorten the payback period and own your system faster.

What's the difference between a PPA and a solar lease?

After you sign a power purchase agreement, your solar provider will not charge to install or maintain your new panel array. Instead, you'll pay them only for the electricity you generate. Typically, PPAs last for 10–25 years or until you "buy out" of the contract.

If you choose a lease, you'll make set monthly payments.

With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.

To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.

Sources