Solar Panel Cost Guide in Hingham, MA (2023 Update)
- Hingham Solar Installation Cost: $8,516
- 25-Year Savings: $16,681
- Payback Period: 8.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hingham
We go over average solar pricing in Hingham.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hingham, the average cost of a solar system is 2.94 per watt. The average solar panel system size in Hingham is around 4.1 kilowatts, meaning a cost of about $8,520 for a solar installation, or $12,184 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with. Many homeowners find going solar is a sound investment. The average homeowner in Hingham can save about $23,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar installer in Hingham for a custom estimate.
Solar savings over time in Hingham
| Year | Return on Investment |
|---|---|
| 1 years | $-6,793 |
| 3 years | $-3,346 |
| 5 years | $101 |
| 7 years | $3,548 |
| 9 years | $6,995 |
| 11 years | $10,442 |
| 13 years | $13,889 |
| 15 years | $17,335 |
| 17 years | $20,782 |
| 19 years | $24,229 |
| 21 years | $27,676 |
| 23 years | $31,123 |
| 25 years | $34,570 |
Top Solar Installers in Hingham
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make your swap to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Hingham
Factors that Affect Solar Panel Costs in Hingham
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Hingham: 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
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Hingham offer solar loans, which reduce the initial cost of installing a solar system. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hingham is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that provide a range of services at different costs. Additionally, some companies in Hingham know more 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 | $3.06 | $12,842 | $23,693 | 8.8 years |
| 8 kW | $3.00 | $16,793 | $31,920 | 8.6 years |
| 10 kW | $2.94 | $20,580 | $40,311 | 8.4 years |
| 12 kW | $2.88 | $24,202 | $48,867 | 8.3 years |
| 14 kW | $2.82 | $27,660 | $57,588 | 8.1 years |
| 16 kW | $2.76 | $30,952 | $66,474 | 7.9 years |
| 18 kW | $2.70 | $34,080 | $75,524 | 7.8 years |
| 20 kW | $2.65 | $37,044 | $84,738 | 7.6 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should go with, since different companies have different panels.
- Installation Process: When going solar, it's necessary to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Contract: When reading through your solar installer'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 component breaking or the company going 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 Hingham, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hingham?
This is a hard question to answer precisely, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Hingham?
A solar panel system isn't free in Hingham, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,217.82 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger 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.