Solar Panel Cost Guide in Hamilton, MT (2024 Update)
- Hamilton Solar Installation Cost: $40,734
- 25-Year Savings: $23,139
- Payback Period: 19.2 Years
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Average Cost of Solar Panels in Hamilton
We break down average solar pricing in Hamilton.
The average cost of a solar panel system in Hamilton is 3 per watt.The average Hamilton homeowner needs a 16.8-kilowatt system, which would cost about $40,734 with the federal tax credit, or $58,250 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you may look different based on the amount of energy your home requires and what company you choose to go with.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hamilton can save around $13,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Hamilton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hamilton
| Year | Return on Investment |
|---|---|
| 1 years | $-39,461 |
| 3 years | $-36,916 |
| 5 years | $-34,371 |
| 7 years | $-31,826 |
| 9 years | $-29,281 |
| 11 years | $-26,736 |
| 13 years | $-24,190 |
| 15 years | $-21,645 |
| 17 years | $-19,100 |
| 19 years | $-16,555 |
| 21 years | $-14,010 |
| 23 years | $-11,465 |
| 25 years | $-8,920 |
Top Solar Installers in Hamilton
When making the switch to solar, many homeowners choose to hire a solar installation company since installing solar panels yourself can be a challenging project. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're looking for a solar installer in Hamilton, we've compiled a list of our top suggestions here:
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 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 Hamilton
Factors that Affect Solar Panel Costs in Hamilton
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Hamilton: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,470 per kilowatt in Hamilton.There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Hamilton offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Hamilton is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount 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 | $3.61 | $15,157 | $3,790 | 20.0 years |
| 8 kW | $3.54 | $19,821 | $5,441 | 19.6 years |
| 10 kW | $3.47 | $24,290 | $7,288 | 19.2 years |
| 12 kW | $3.40 | $28,565 | $9,328 | 18.8 years |
| 14 kW | $3.33 | $32,646 | $11,563 | 18.5 years |
| 16 kW | $3.26 | $36,532 | $13,992 | 18.1 years |
| 18 kW | $3.19 | $40,224 | $16,615 | 17.7 years |
| 20 kW | $3.12 | $43,722 | $19,433 | 17.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: If you’re worried about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 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 Hamilton, MT Solar Cost FAQs
How much does it cost to install solar panels in Hamilton?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,350 for a 5-kW system and $34,700 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 above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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.