Solar Panel Cost Guide in Hampton, MD (Feb 2023)
- Hampton Solar Installation Cost: $10,839
- 25-Year Savings: $10,055
- Payback Period: 13.0 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Hampton
Let's have a look at the average cost of solar in Hampton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hampton, the typical cost of solar panels is $3 per watt. The average Hampton homeowner needs a 5.6-kilowatt system, which would cost about $10,839, or $8,021 after the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you will differ based on factors unique to your home and what company you go with. Even with the significant initial cost, the average Hampton homeowner can save around $14,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Hampton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,003 |
| 3 years | $-8,332 |
| 5 years | $-6,660 |
| 7 years | $-4,989 |
| 9 years | $-3,317 |
| 11 years | $-1,646 |
| 13 years | $26 |
| 15 years | $1,697 |
| 17 years | $3,369 |
| 19 years | $5,040 |
| 21 years | $6,712 |
| 23 years | $8,383 |
| 25 years | $10,055 |
Top Solar Installers in Hampton
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Hiring a solar panel installer can make switching to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over the lifespan of your panels.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers nearby:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Hampton
Factors that Affect Solar Panel Costs in Hampton
For many Hampton homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Hampton, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Hampton, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
If paying for solar panels out of pocket is difficult, solar loans are an affordable route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Hampton, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $10,331 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,085 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $17,995 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,059 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,278 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,653 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,182 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,867 | 11.7 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Hampton, MD Solar Cost FAQs
What is the average cost of installing solar panels in Hampton?
The average cost of solar panels in Hampton is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hampton?
You can't get solar panels for free in Hampton. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after installing solar panels?
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 $747.69 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 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.