Solar Panel Cost Guide in Hampden, MA (2024 Update)
- Hampden Solar Installation Cost: $12,716
- 25-Year Savings: $16,717
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Hampden
See 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 typical cost of a solar system is 4 per watt.The average Hampden homeowner needs a 4.5-kilowatt system, which would cost about $12,716 with the federal tax credit, or $18,184 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom quote.
Solar savings over time in Hampden
| Year | Return on Investment |
|---|---|
| 1 years | $-10,992 |
| 3 years | $-7,545 |
| 5 years | $-4,098 |
| 7 years | $-651 |
| 9 years | $2,795 |
| 11 years | $6,242 |
| 13 years | $9,689 |
| 15 years | $13,136 |
| 17 years | $16,583 |
| 19 years | $20,030 |
| 21 years | $23,477 |
| 23 years | $26,923 |
| 25 years | $30,370 |
Top Solar Installers in Hampden
Many homeowners decide to hire a solar installer since trying to put up solar panels yourself can be time-consuming. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in Hampden, 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Hampden
Factors that Affect Solar Panel Costs in Hampden
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Hampden: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to think 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’s in your budget.
Solar Financing Terms
Most solar installers in Hampden have solar loans, which reduce the initial cost of installing solar.However, the interest on solar loans also increases your total costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Hampden, and each can charge varying amounts for labor and equipment.Additionally, some companies in Hampden have more knowledge about local solar incentives and can help you make good use 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 end up saving you 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 | $4.22 | $17,734 | $17,031 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,163 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,522 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $36,109 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,923 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,964 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,233 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,728 | 11.0 years |
How to Save on Solar Panels
There are a large number of companies available in Hampden, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should choose, since different companies have access to different panels.
- Contract: Before you sign a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- 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.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Hampden, MA Solar Cost FAQs
How much does it cost to install solar panels in Hampden?
The average cost of solar panels in Hampden is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like 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 Hampden?
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 property 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 bang for your buck from going solar.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,158.84 per year.
How long do solar panels last in Hampden?
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.