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.
The average cost of a solar system in Hopkinton is 4 per watt.The average Hopkinton homeowner needs a 4.5-kilowatt system, which would cost about $12,674 with the federal tax credit, or $18,124 before the 0 tax credit is applied.
These figures are just averages, and your own solar costs will look different based on your energy needs and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Hopkinton see about $22,000 in savings on electricity bills over 20 years.
To see your potential savings and connect with a local solar company, 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
Installing solar panels by yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
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
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 Hopkinton
Factors that Affect Solar Panel Costs in Hopkinton
Though the average cost of a solar system in Hopkinton is $12,674, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, 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 for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Hopkinton offer solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your all-in costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Hopkinton, and each can charge varying amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also is within your budget.
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 installer you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
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 Hopkinton, MA Solar Cost FAQs
How much does it cost to install solar panels in Hopkinton?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Hopkinton?
You can’t get solar panels for free in Hopkinton. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Hopkinton, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 account for 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.