Solar Panel Cost Guide in Hampden, MA (2023 Update)
- Hampden Solar Installation Cost: $9,208
- 25-Year Savings: $16,717
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hampden
Here's how much it might cost to make the switch to solar in Hampden.
The average cost of solar panels in Hampden is 2.94 per watt. The average solar panel system size in Hampden is around 4.5 kilowatts, meaning a cost of about $9,199 for a solar installation, or $13,155 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hampden homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With typical savings of about $22,000 on energy bills over 20 years, many homeowners in Hampden find investing in solar can be quite rewarding.
To receive a free quote from a top solar installation company in Hampden, you can click the button below.
Solar savings over time in Hampden
| Year | Return on Investment |
|---|---|
| 1 years | $-7,484 |
| 3 years | $-4,037 |
| 5 years | $-591 |
| 7 years | $2,856 |
| 9 years | $6,303 |
| 11 years | $9,750 |
| 13 years | $13,197 |
| 15 years | $16,644 |
| 17 years | $20,091 |
| 19 years | $23,537 |
| 21 years | $26,984 |
| 23 years | $30,431 |
| 25 years | $33,878 |
Top Solar Installers in Hampden
Many homeowners opt for a solar panel company since installing solar panels on your own can be a lot of work. Some solar installers, particularly local ones, can help you make the most of incentives in Hampden, therefore optimizing your ROI.
If you're looking for a solar installer in Hampden, we've organized 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
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 key factors that determine your overall cost in Hampden: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hampden, 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 figure out by looking at past electricity bills. Your overall cost can increase by around $2,940 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Hampden provide solar loans, which reduce your upfront costs of installing solar. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Hampden is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different price points. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $3.06 | $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 many companies available in Hampden, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two 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 positive reviews from previous customers.
- Warranty: If you're concerned about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Hampden, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hampden?
This is a difficult question to answer precisely, 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 cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Hampden?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. 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 many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.