Solar Panel Cost Guide in Hopkinton, MA (2024 Update)
- Hopkinton Solar Installation Cost: $12,674
- 25-Year Savings: $28,886
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Hopkinton
Let’s have a look at the average cost of solar panels in Hopkinton.
Although the national average of solar panels is $2.66 per watt, solar panels in Hopkinton typically cost about 4.Since a 4.5-kW system is needed to cover the energy needs of a typical home in Hopkinton, the average price of going solar will be about $12,674 after claiming the federal solar tax credit of 0.
These figures are only estimates, and how much solar costs for you will differ based on factors unique to your home and what company you choose to go with.Despite the significant initial cost, the average Hopkinton homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a pre-vetted solar installer in Hopkinton, you can click the button below.
Solar savings over time in Hopkinton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,011 |
| 3 years | $-7,687 |
| 5 years | $-4,362 |
| 7 years | $-1,037 |
| 9 years | $2,288 |
| 11 years | $5,612 |
| 13 years | $8,937 |
| 15 years | $12,262 |
| 17 years | $15,587 |
| 19 years | $18,911 |
| 21 years | $22,236 |
| 23 years | $25,561 |
| 25 years | $28,886 |
Top Solar Installers in Hopkinton
When making the switch to solar, many homeowners choose to go with a solar company since putting up solar panels yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance over the lifespan of your panels.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hopkinton
Factors that Affect Solar Panel Costs in Hopkinton
The cost of installing a solar system in Hopkinton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hopkinton, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Hopkinton, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Hopkinton provide solar loans, which reduce your upfront costs of installing a solar system.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher 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 opt for to install your solar panel system can impact how much you pay. Hopkinton’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $4.22 | $17,734 | $17,266 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,477 | 12.4 years |
| 10 kW | $4.06 | $28,420 | $29,914 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,579 | 11.9 years |
| 14 kW | $3.90 | $38,196 | $43,471 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,591 | 11.4 years |
| 18 kW | $3.74 | $47,064 | $57,938 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,512 | 11.0 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Solar Panel Brands: The type of solar panel you need plays a role in which installer you should choose, since different companies have different panels.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Hopkinton, MA Solar Cost FAQs
What is the average cost of installing solar panels in Hopkinton?
The average cost of solar panels in Hopkinton is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hopkinton?
A solar panel system isn’t free in Hopkinton, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
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 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 $1,166.68 per year.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can 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 install between 20 and 35 panels to cover 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.