Solar Panel Cost Guide in Hanover, MA (2024 Update)
- Hanover Solar Installation Cost: $11,760
- 25-Year Savings: $17,408
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Hanover
We go over average solar pricing in Hanover.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hanover, the typical cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Hanover, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs about $11,760, or $16,817 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $24,000 over 20 years on electricity bills.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,037 |
| 3 years | $-6,590 |
| 5 years | $-3,143 |
| 7 years | $304 |
| 9 years | $3,751 |
| 11 years | $7,198 |
| 13 years | $10,644 |
| 15 years | $14,091 |
| 17 years | $17,538 |
| 19 years | $20,985 |
| 21 years | $24,432 |
| 23 years | $27,879 |
| 25 years | $31,326 |
Top Solar Installers in Hanover
Many homeowners decide to hire a solar panel company since trying to put up solar panels yourself can be time-consuming. Also, if you’d like to maximize your investment in solar, going with a solar company can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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
See all of the solar companies in Hanover
Factors that Affect Solar Panel Costs in Hanover
For many Hanover homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Hanover, with typical prices between $20,000 to $40,000. There are a few factors that significantly 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 adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $4,060 per kilowatt in Hanover.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Hanover, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Hanover homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can affect your pricing. Hanover’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hanover are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $19,855 | 11.8 years |
| 8 kW | $4.14 | $23,191 | $26,928 | 11.6 years |
| 10 kW | $4.06 | $28,420 | $34,229 | 11.3 years |
| 12 kW | $3.98 | $33,422 | $41,757 | 11.1 years |
| 14 kW | $3.90 | $38,196 | $49,512 | 10.9 years |
| 16 kW | $3.82 | $42,744 | $57,494 | 10.7 years |
| 18 kW | $3.74 | $47,064 | $65,704 | 10.4 years |
| 20 kW | $3.65 | $51,156 | $74,142 | 10.2 years |
How to Save on Solar Panels
There are a lot of 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:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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
EcoWatch's Hanover, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hanover?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Hanover?
Solar panels aren’t free in Hanover, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my property value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Hanover?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.