Solar Panel Cost Guide in Hull, MA (2023 Update)
- Hull 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 Hull
Let's have a look at the average cost of solar panels in Hull.
In Hull, solar panels cost about 2.94 per watt on average. To cover the typical energy needs of the average home in Hull, most homeowners require a 4.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,520, or $12,184 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and how much solar costs for you may vary based on factors unique to your home and what company you go with. Despite the large upfront cost, the average Hull homeowner can save around $23,000 on their power bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a reputable solar panel company in Hull for a custom quote.
Solar savings over time in Hull
| 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 Hull
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your switch to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to switch to solar energy but still aren't certain which solar panel company to go with, here are our recommendations 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
See all of the solar companies in Hull
Factors that Affect Solar Panel Costs in Hull
The cost of installing a solar system in Hull can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, 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 system in Hull, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,940 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Hull, 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 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 utility bills over many years, but they can also be a significant investment. That's why many Hull homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Hull, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Hull have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $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 numerous companies to choose from in Hull, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will have different brands and models of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer 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
EcoWatch's Hull, MA Solar Cost FAQs
How much does it cost to install solar panels in Hull?
The average cost of solar panels in Hull is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Hull?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Hull, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 buy 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.