Solar Panel Cost Guide in Hamilton, MA (2023 Update)
- Hamilton Solar Installation Cost: $8,746
- 25-Year Savings: $16,208
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hamilton
We go over average solar pricing in Hamilton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamilton, the average cost of a solar system is 2.94 per watt. Because a 4.2-kW system is needed to cover the energy usage of a typical home in Hamilton, the average price of going solar will be about $8,746 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-7,748 |
| 3 years | $-5,752 |
| 5 years | $-3,756 |
| 7 years | $-1,759 |
| 9 years | $237 |
| 11 years | $2,233 |
| 13 years | $4,230 |
| 15 years | $6,226 |
| 17 years | $8,222 |
| 19 years | $10,219 |
| 21 years | $12,215 |
| 23 years | $14,211 |
| 25 years | $16,208 |
Top Solar Installers in Hamilton
Many homeowners choose to use a solar panel installer since installing solar panels on your own can be hard. The payback period on an investment in solar panels will vary depending on factors like your location and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
For many Hamilton homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Hamilton, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,940 per kilowatt in Hamilton. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Hamilton average.
Solar Financing Terms
Most solar installers in Hamilton provide solar loans, which reduce the initial cost of installing a solar system. Although solar loans make adopting solar energy more accessible for Hamilton homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Hamilton, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.06 | $12,842 | $22,400 | 9.1 years |
| 8 kW | $3.00 | $16,793 | $30,196 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,156 | 8.8 years |
| 12 kW | $2.88 | $24,202 | $46,282 | 8.6 years |
| 14 kW | $2.82 | $27,660 | $54,571 | 8.4 years |
| 16 kW | $2.76 | $30,952 | $63,026 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $71,645 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $80,429 | 7.9 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 find the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which company you should choose, since different companies have different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from past customers.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Hamilton, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hamilton?
The average cost of solar panels in Hamilton is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hamilton?
Leasing solar panels can be an option if you can't pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How will solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hamilton is currently $569,100, so you could be looking at a value of about $23,333 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hamilton is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.