Solar Panel Cost Guide in Hampden, MA (Mar 2023)
- Hampden Solar Installation Cost: $9,199
- 25-Year Savings: $16,725
- Payback Period: 8.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hampden
Here's how much it might cost to make the switch to solar in Hampden.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hampden, the average cost of solar panels is 2.94 per watt. Because a 4.5-kW system is needed to cover the energy consumption of a typical home in Hampden, the average price of going solar will be about $9,199 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. Despite the high initial cost, the average Hampden homeowner can save around $22,000 on their power bills over 20 years, which is one of the perks of solar.
To receive a free quote from a pre-vetted solar installation company in Hampden, you can click the button below.
Solar savings over time in Hampden
| Year | Return on Investment |
|---|---|
| 1 years | $-8,162 |
| 3 years | $-6,088 |
| 5 years | $-4,014 |
| 7 years | $-1,940 |
| 9 years | $134 |
| 11 years | $2,208 |
| 13 years | $4,281 |
| 15 years | $6,355 |
| 17 years | $8,429 |
| 19 years | $10,503 |
| 21 years | $12,577 |
| 23 years | $14,651 |
| 25 years | $16,725 |
Top Solar Installers in Hampden
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. Some solar installers, particularly local ones, can help you better understand incentives in Hampden, thereby optimizing your ROI.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our suggestions for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Hampden
Factors that Affect Solar Panel Costs in Hampden
The cost of installing a solar system in Hampden can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Hampden, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $2,940 for each additional kilowatt you need. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Hampden are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $3.06 | $12,842 | $21,923 | 9.2 years |
| 8 kW | $3.00 | $16,793 | $29,561 | 9.1 years |
| 10 kW | $2.94 | $20,580 | $37,362 | 8.9 years |
| 12 kW | $2.88 | $24,202 | $45,329 | 8.7 years |
| 14 kW | $2.82 | $27,660 | $53,460 | 8.5 years |
| 16 kW | $2.76 | $30,952 | $61,755 | 8.3 years |
| 18 kW | $2.70 | $34,080 | $70,216 | 8.2 years |
| 20 kW | $2.65 | $37,044 | $78,840 | 8.0 years |
How to Save on Solar Panels
There are a lot of companies available in Hampden, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 good reviews from previous customers.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Hampden, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hampden?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,700 for a 5-kW system and $29,400 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Hampden?
Leasing solar panels can be an option if you can't afford to pay upfront or secure 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.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hampden, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get between 20 and 35 panels to account for 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.