Solar Panel Cost Guide in Hampton, IL (2024 Update)
- Hampton Solar Installation Cost: $16,986
- 25-Year Savings: $4,211
- Payback Period: 21.1 Years
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Average Cost of Solar Panels in Hampton
We break down average solar pricing in Hampton.
The average cost of solar panels in Hampton is 4 per watt.To cover the typical energy usage of the average home in Hampton, most homeowners require a 6.5-kilowatt system. Using the figure above, a solar installation costs about $16,986, or $24,290 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Hampton see about $12,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hampton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,138 |
| 3 years | $-14,442 |
| 5 years | $-12,746 |
| 7 years | $-11,051 |
| 9 years | $-9,355 |
| 11 years | $-7,659 |
| 13 years | $-5,963 |
| 15 years | $-4,268 |
| 17 years | $-2,572 |
| 19 years | $-876 |
| 21 years | $820 |
| 23 years | $2,515 |
| 25 years | $4,211 |
Top Solar Installers in Hampton
Putting up solar panels yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you aren’t sure what brand of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you’d like to start using solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Hampton
Factors that Affect Solar Panel Costs in Hampton
For many Hampton homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Hampton, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,760. There are a lot of different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Hampton to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.When estimating 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
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Hampton, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $2,271 | 22.0 years |
| 8 kW | $3.84 | $21,477 | $3,448 | 21.5 years |
| 10 kW | $3.76 | $26,320 | $4,837 | 21.1 years |
| 12 kW | $3.68 | $30,952 | $6,436 | 20.7 years |
| 14 kW | $3.61 | $35,374 | $8,246 | 20.3 years |
| 16 kW | $3.53 | $39,585 | $10,266 | 19.9 years |
| 18 kW | $3.46 | $43,586 | $12,497 | 19.4 years |
| 20 kW | $3.38 | $47,376 | $14,938 | 19.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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 Hampton, IL Solar Cost FAQs
How much does it cost to install solar panels in Hampton?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Hampton?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can opt to replace them after having 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.