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Peabody has 54,200 residents served by PMLP (Peabody Municipal Light Plant) at ~$0.15/kWh -- about 45% less than National Grid. Lower rates mean longer solar payback. No SMART 3.0. No ConnectedSolutions. Here is the honest math.
PMLP municipal utility • ~$0.15/kWh • No SMART 3.0 • No ConnectedSolutions
2026 Reality: The 30% federal tax credit (Section 25D) expired for homeowners December 31, 2025. All costs in this guide reflect $0 federal credit. Full details
Municipal Utility Notice: Peabody is served by PMLP (Peabody Municipal Light Plant), not National Grid or Eversource. Municipal utility customers are not eligible for SMART 3.0, ConnectedSolutions, or state-mandated net metering terms. This significantly changes the solar financial equation compared to neighboring towns.
An 11.5 kW system in Peabody costs $33,925-$37,950 in 2026. With PMLP rates at ~$0.15/kWh and no SMART income, annual savings are approximately $2,070/yr. Payback takes 14-18 years -- longer than National Grid territory. Over 25 years, total savings are approximately $55,000.
Cost Range
$2.95-$3.3/W
Fully installed
Avg System
11.5 kW
Peabody average
Payback
14-18 yrs
Cash purchase
25-Year Savings
~$55K
Estimated total value
Peabody is a city of ~54,200 residents on the North Shore with a diverse mix of residential neighborhoods. Historically a leather-tanning center, today Peabody is known for its mix of suburban neighborhoods, the Northshore Mall area, and access to Route 1 and I-95. The city runs its own municipal light plant (PMLP), which provides some of the lowest electricity rates in the region.
Population
~54,200
Median Home Value
~$450,000
Primary Utility
PMLP (Municipal)
Electric Rate
~$0.15/kWh
Typical System Size
10-14 kW
Solar Irradiance
4.2 kWh/m²/day
Peabody is one of ~40 Massachusetts towns with a municipal light plant. This matters enormously for solar economics. Here is a direct comparison.
| Factor | Peabody (PMLP) | Beverly (National Grid) |
|---|---|---|
| Electric Rate | ~$0.15/kWh | $0.32/kWh |
| Annual Savings (11.5 kW) | ~$2,070/yr | ~$3,751/yr |
| SMART 3.0 Income | Not eligible ($0) | ~$414/yr |
| ConnectedSolutions | Not eligible ($0) | ~$2,750/yr (10 kW battery) |
| Total Annual Value | ~$2,070/yr | ~$6,915/yr |
| Payback Period | 14-18 years | 7.5-9 years |
| 25-Year Savings | ~$55K | ~$120K |
Bottom line: Peabody homeowners save roughly 70% less per year from solar compared to National Grid customers. The lower PMLP rate is great for your electricity bill today, but it means solar takes much longer to pay for itself.
Costs for different system sizes in Peabody at $2.95-3.30/W. Annual savings are based on PMLP rates (~$0.15/kWh), not National Grid rates.
| System Size | Low Cost | High Cost | Annual Savings | Best For |
|---|---|---|---|---|
| 7 kW | $20,650 | $23,100 | ~$1,260/yr | Condo / smaller home |
| 9 kW | $26,550 | $29,700 | ~$1,620/yr | Mid-size colonial / ranch |
| 11.5 kW | $33,925 | $37,950 | ~$2,070/yr | Typical Peabody single-family |
| 14 kW | $41,300 | $46,200 | ~$2,520/yr | Large home / EV charging |
| 17 kW | $50,150 | $56,100 | ~$3,060/yr | High usage / all-electric home |
Prices include equipment, labor, permits, and grid interconnection. No federal tax credit included (expired). $1,000 MA state tax credit not deducted. Annual savings based on PMLP rates (~$0.15/kWh). No SMART income included.
Peabody's neighborhoods vary in housing stock and solar conditions. All are served by PMLP with the same rates and policies.
Home Types
Ranches, split-levels, Capes
Avg System
10-13 kW
Residential area with good solar access. Many 1950s-1970s homes with south-facing roof sections. Newer construction on some streets. Standard installations.
Home Types
Colonials, newer construction, larger lots
Avg System
12-15 kW
Newer development with larger lots and less tree canopy. Bigger homes with higher energy consumption -- larger systems make sense despite lower $/kWh. Best solar conditions in Peabody.
Home Types
Older colonials, multi-family, mixed use
Avg System
8-10 kW
Denser downtown area with older housing stock. Some roofs may need upgrade before solar. Tree canopy and proximity to neighbors can cause shading. Multi-family buildings may need shared system agreements.
Solar is not for every Peabody homeowner, but it can be a smart investment in the right circumstances.
You plan to stay in your home 15+ years
You want energy independence and resilience
You have high energy usage (EV, heat pump, etc.)
You want to hedge against future PMLP rate increases
Environmental impact matters to you
You can pay cash or get a low-APR loan (<5%)
You want to increase your property value
You only care about quick financial payback (<10 years)
You plan to move within 10 years
You would need a high-APR loan (7%+)
Your roof needs replacement in the next 5 years
You have significant shading from trees or buildings
Peabody's Building Department handles solar permits. PMLP handles the interconnection. Process typically takes 2-4 weeks.
Installer evaluates roof condition, shade, and orientation. PMLP interconnection requirements reviewed.
Application to Peabody Building Department. Electrical and structural plans. PMLP interconnection application filed simultaneously.
Typical installation 1-3 days. City electrical and building inspection.
PMLP approves grid connection and activates metering. Municipal timeline varies -- confirm with PMLP.
While PMLP customers miss out on SMART 3.0 and ConnectedSolutions, you still qualify for several state-level incentives.
PMLP offers a form of net metering. Excess production is credited against your bill. Contact PMLP for current terms and compensation rates.
~$2,070/yr
Based on ~$0.15/kWh rate
15% of system cost, capped at $1,000. Available to all MA residents regardless of utility.
$1,000
One-time credit
Solar systems are exempt from the 6.25% MA sales tax. Available statewide.
~$2,247
Savings on typical system
Solar-added value is exempt from property tax for 20 years. Peabody has a 1.044% residential rate.
~$375/yr
20-year exemption (~$7,500 total)
Not available. SMART only applies to investor-owned utility customers (Eversource, National Grid, Unitil).
$0/yr
Not eligible
Not available. ConnectedSolutions is run by Eversource and National Grid only.
$0/yr
Not eligible
Financing matters more in Peabody because the lower electricity savings mean monthly loan payments can exceed monthly bill savings. Cash is the strongest option here.
Upfront
~$33,925-$37,950
Monthly
$0
25-yr Savings
~$55K
Ownership
You own it
Best long-term value but 14-18 year payback due to low PMLP rates. Resilience and hedge against future rate increases are the primary drivers.
Upfront
$0 down
Monthly
~$230-325/mo (5.5-8% APR)
25-yr Savings
~$20-35K
Ownership
You own it
Caution: at PMLP rates, monthly loan payments may exceed monthly electricity savings for the first 10+ years. Only advisable with low APR terms.
Upfront
$0
Monthly
Fixed ~$0.10-0.13/kWh
25-yr Savings
~$10-20K
Ownership
Third party owns
PPA rate must be below PMLP rate (~$0.15/kWh) to generate savings. Third-party owner claims Section 48 ITC.
Section 25D (the 30% residential solar tax credit) expired December 31, 2025 under the OBBBA. Peabody homeowners buying cash or loan receive $0 in federal credit. Third-party system owners (PPA/lease) can still claim the commercial Section 48/48E ITC.
Read: What happened to the solar tax creditSolar panels in Peabody cost $2.95-3.30 per watt installed in 2026. A typical 11.5 kW system costs $33,925-$37,950. The federal Section 25D residential tax credit expired December 31, 2025 -- homeowners receive $0 in federal credit. Peabody's municipal utility (PMLP) means no SMART 3.0 income and no ConnectedSolutions, which lengthens the payback period significantly compared to National Grid towns.
Peabody Municipal Light Plant charges approximately $0.15/kWh -- about 45% less than National Grid's $0.32/kWh. Lower electricity rates mean lower annual savings from solar (about $2,070/yr vs $3,750/yr for the same system in National Grid territory). Additionally, PMLP customers are not eligible for SMART 3.0 ($0.03/kWh production payments) or ConnectedSolutions battery revenue, which add roughly $3,150/yr for National Grid customers. The combined effect pushes Peabody payback to 14-18 years vs 7.5-9 years in National Grid territory.
No. SMART 3.0 is only available to customers of investor-owned utilities (Eversource, National Grid, Unitil). Peabody Municipal Light Plant (PMLP) is a municipal utility and is not a SMART participant. This is one of the biggest financial differences between Peabody and neighboring National Grid towns.
It depends on your priorities. Financially, the payback is 14-18 years -- longer than National Grid towns but still within the 25+ year panel lifespan. Solar adds real value through energy independence, protection against future rate increases (PMLP rates have risen over time), property value increase, and environmental impact. If PMLP raises rates to $0.20/kWh over the next decade, your payback accelerates significantly. For homeowners planning to stay 15+ years, solar is still a sound investment.
PMLP offers a form of net metering but the terms differ from investor-owned utilities. Municipal light plants set their own interconnection and compensation policies. Contact PMLP directly at (978) 531-5975 to confirm current net metering rates, interconnection requirements, and any system size limits. Terms can change and may be less favorable than state-mandated net metering for National Grid customers.
We'll give you an honest assessment based on PMLP rates -- not inflated numbers based on National Grid pricing. Get real Peabody-specific solar savings.
Complete hub for MA solar, heat pumps, and utility resources.
Read moreStatewide solar costs and city-by-city breakdown.
Read moreHow different MA utilities affect solar economics.
Read moreCash vs loan vs PPA. Critical for municipal utility customers.
Read moreHow to make solar work without the 25D credit.
Read moreSales + property tax exemptions still available.
Read more25D expired. What options remain for homeowners.
Read moreMLP customers are NOT eligible. See who qualifies.
Read moreMLP customers are NOT eligible for this demand response program.
Read moreTrack rate changes across MA utilities and MLPs since 2020.
Read moreLive installation data, capacity trends, and market stats.
Read moreCurrent wait times and how MLP interconnection differs.
Read morePricing: EnergySage Solar Marketplace (January 2026), NuWatt Energy North Shore installations.
Utility rates: Peabody Municipal Light Plant (PMLP) published rates, 2026.
Municipal utility policy: PMLP interconnection guidelines, net metering policy.
SMART eligibility: MassDOER program rules -- municipal light plant customers excluded.
Tax exemptions: MA Department of Revenue, Peabody Assessor data.