Solar Panel Cost Guide in Hampshire, IL (Feb 2023)

  • Hampshire Solar Installation Cost: $12,479
  • 25-Year Savings: $10,133
  • Payback Period: 13.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hampshire

We break down average solar pricing in Hampshire.

The average cost of a solar panel system in Hampshire is $3 per watt. Since a 6.5-kW system is needed to cover the energy consumption of a typical home in Hampshire, the average price of going solar will be about $12,479 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $13,000 over 20 years on utility bills.

To receive a free estimate from a vetted solar installer in Hampshire, you can click the button below.

Solar savings over time in Hampshire

Year Return on Investment
1 years $-11,574
3 years $-9,765
5 years $-7,956
7 years $-6,148
9 years $-4,339
11 years $-2,530
13 years $-721
15 years $1,088
17 years $2,897
19 years $4,706
21 years $6,515
23 years $8,324
25 years $10,133

Top Solar Installers in Hampshire

Although it's possible to install solar panels on your own, it requires extra energy and know-how. That's why most homeowners choose a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.

If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Hampshire:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Hampshire

Factors that Affect Solar Panel Costs in Hampshire

The cost of installing a solar system in Hampshire can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the cost of solar panels in Hampshire, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,730 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Hampshire homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The solar company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you want and also fits within your budget.

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 $8,851 14.3 years
8 kW $2.78 $15,594 $12,107 14.1 years
10 kW $2.73 $19,110 $15,516 13.8 years
12 kW $2.68 $22,473 $19,077 13.5 years
14 kW $2.62 $25,684 $22,792 13.2 years
16 kW $2.57 $28,741 $26,660 13.0 years
18 kW $2.51 $31,646 $30,680 12.7 years
20 kW $2.46 $34,398 $34,853 12.4 years

How to Save on Solar Panels

There are numerous companies available in Hampshire, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project completion timeline.
  • Reputation: Your solar installer should have a sound 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Hampshire, IL Solar Cost FAQs

How much does it cost to install solar panels in Hampshire?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,650 for a 5-kW system and $27,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Are solar panels free in Hampshire?

You can't get solar panels for free in Hampshire. 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 much can I save on energy bills after switching to solar?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hampshire, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Hampshire?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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