Solar Panel Cost Guide in Hanford, CA (2023 Update)
- Hanford Solar Installation Cost: $5,617
- 25-Year Savings: $16,934
- Payback Period: 6.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hanford
Let's have a look at the average cost of solar in Hanford.
The national average cost of solar panels is $2.66 per watt, but in Hanford it's 2.73 per watt. To account for the typical energy needs of the average home in Hanford, most homeowners require a 2.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $5,618, or $8,034 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Hanford can save about $29,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Hanford
| Year | Return on Investment |
|---|---|
| 1 years | $-5,541 |
| 3 years | $-5,391 |
| 5 years | $-5,241 |
| 7 years | $-5,090 |
| 9 years | $-4,940 |
| 11 years | $-4,790 |
| 13 years | $-4,639 |
| 15 years | $-4,489 |
| 17 years | $-4,339 |
| 19 years | $-4,188 |
| 21 years | $-4,038 |
| 23 years | $-3,888 |
| 25 years | $-3,737 |
Top Solar Installers in Hanford
Although you can install solar panels by yourself, it involves extra labor and handiness. That's one of the reasons most people choose a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
If you're searching for a solar company in Hanford, we've put together a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Hanford
Factors that Affect Solar Panel Costs in Hanford
While the average cost of a solar system in Hanford is $5,618, your actual cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Hanford. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Hanford homeowners choose to finance their solar panel systems to offset upfront costs. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence the cost. Hanford's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hanford have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $34,110 | 6.5 years |
| 8 kW | $2.78 | $15,594 | $45,786 | 6.4 years |
| 10 kW | $2.73 | $19,110 | $57,615 | 6.2 years |
| 12 kW | $2.68 | $22,473 | $69,597 | 6.1 years |
| 14 kW | $2.62 | $25,684 | $81,731 | 6.0 years |
| 16 kW | $2.57 | $28,741 | $94,019 | 5.9 years |
| 18 kW | $2.51 | $31,646 | $106,459 | 5.7 years |
| 20 kW | $2.46 | $34,398 | $119,052 | 5.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Hanford, CA Solar Cost FAQs
How much does it cost to install solar panels in Hanford?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Hanford?
You can't get solar panels for free in Hanford. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Hanford?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.