Solar Panel Cost Guide in Derry, NH (Mar 2023)
- Derry Solar Installation Cost: $9,818
- 25-Year Savings: $16,982
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Derry
Here's how much it might cost to go solar in Derry.
The national average cost of solar panels is $2.66 per watt, but in Derry it's 2.91 per watt. Since a 4.8-kW system is needed to cover the energy needs of a typical home in Derry, the average price of going solar will be about $9,818 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with. With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Derry find investing in solar can be quite rewarding.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Derry
| Year | Return on Investment |
|---|---|
| 1 years | $-8,746 |
| 3 years | $-6,602 |
| 5 years | $-4,458 |
| 7 years | $-2,314 |
| 9 years | $-170 |
| 11 years | $1,974 |
| 13 years | $4,118 |
| 15 years | $6,262 |
| 17 years | $8,406 |
| 19 years | $10,550 |
| 21 years | $12,694 |
| 23 years | $14,838 |
| 25 years | $16,982 |
Top Solar Installers in Derry
Although you can install solar panels on your own, it takes extra time and handiness. For that reason, almost all homeowners choose to hire a solar panel installer. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Derry
Factors that Affect Solar Panel Costs in Derry
Although the average cost of a solar system in Derry is $9,818, your final cost may differ. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
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 electricity your household uses, the larger your system will likely need to be. You can expect to pay around $2,910 per kilowatt in Derry. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When figuring 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
Finally, the company you opt for to install your solar panel system can play a part in determining your pricing. Derry's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Derry are more knowledgeable about local solar incentives and can help you learn about 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 | $3.03 | $12,711 | $20,655 | 9.5 years |
| 8 kW | $2.97 | $16,622 | $27,866 | 9.3 years |
| 10 kW | $2.91 | $20,370 | $35,240 | 9.2 years |
| 12 kW | $2.85 | $23,955 | $42,776 | 9.0 years |
| 14 kW | $2.79 | $27,377 | $50,476 | 8.8 years |
| 16 kW | $2.74 | $30,636 | $58,339 | 8.6 years |
| 18 kW | $2.68 | $33,733 | $66,365 | 8.4 years |
| 20 kW | $2.62 | $36,666 | $74,553 | 8.2 years |
How to Save on Solar Panels
The solar panel company you go with will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
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 Derry, NH Solar Cost FAQs
How much does it cost to install solar panels in Derry?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase the value of your home?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't go 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 solar panels."
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 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.