Solar Panel Cost Guide in Hampton, MI (2023 Update)
- Hampton Solar Installation Cost: $12,108
- 25-Year Savings: $20,744
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hampton
Here's how much it might cost to install solar panels in Hampton.
While the national average of solar panels is $2.66 per watt, solar panels in Hampton typically cost around 2.81. Since a 6.2-kW system is needed to cover the energy needs of a typical home in Hampton, the average price of going solar will be about $12,117 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Hampton homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Even with the large initial cost, the average Hampton homeowner can save about $20,000 on their power bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a highly rated solar installer in Hampton for a custom quote.
Solar savings over time in Hampton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,999 |
| 3 years | $-11,780 |
| 5 years | $-11,561 |
| 7 years | $-11,342 |
| 9 years | $-11,123 |
| 11 years | $-10,904 |
| 13 years | $-10,685 |
| 15 years | $-10,466 |
| 17 years | $-10,247 |
| 19 years | $-10,028 |
| 21 years | $-9,809 |
| 23 years | $-9,590 |
| 25 years | $-9,371 |
Top Solar Installers in Hampton
When going solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a time-consuming project. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our suggestions for providers nearby:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Hampton
Factors that Affect Solar Panel Costs in Hampton
The cost of installing a solar system in Hampton can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Hampton. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Hampton, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your overall costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Hampton, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $19,747 | 9.6 years |
| 8 kW | $2.87 | $16,051 | $26,644 | 9.4 years |
| 10 kW | $2.81 | $19,670 | $33,698 | 9.2 years |
| 12 kW | $2.75 | $23,132 | $40,910 | 9.0 years |
| 14 kW | $2.70 | $26,436 | $48,279 | 8.8 years |
| 16 kW | $2.64 | $29,584 | $55,806 | 8.7 years |
| 18 kW | $2.59 | $32,574 | $63,489 | 8.5 years |
| 20 kW | $2.53 | $35,406 | $71,331 | 8.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you're concerned about the longevity of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Hampton, MI Solar Cost FAQs
How much does it cost to install solar panels in Hampton?
The average cost of solar panels in Hampton is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual 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.
Should I lease or buy solar panels in Hampton?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 savings from going solar.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Hampton, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.