Solar Panel Cost Guide in Hampstead, NH (2024 Update)
- Hampstead Solar Installation Cost: $14,236
- 25-Year Savings: $15,478
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Hampstead
We go over average solar pricing in Hampstead.
In Hampstead, solar panels cost about 4 per watt on average.The average solar panel system size in Hampstead is around 4.8 kilowatts, meaning a cost of about $14,236 for a solar installation, or $20,357 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you want to get, your solar contractor and more.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hampstead
| Year | Return on Investment |
|---|---|
| 1 years | $-12,829 |
| 3 years | $-10,016 |
| 5 years | $-7,202 |
| 7 years | $-4,388 |
| 9 years | $-1,575 |
| 11 years | $1,239 |
| 13 years | $4,053 |
| 15 years | $6,866 |
| 17 years | $9,680 |
| 19 years | $12,493 |
| 21 years | $15,307 |
| 23 years | $18,121 |
| 25 years | $20,934 |
Top Solar Installers in Hampstead
Although it's possible to install solar panels by yourself, it takes extra effort and expertise. For that reason, the majority of homeowners choose to hire a solar panel installer. Another upside of going with a solar company is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Hampstead
Factors that Affect Solar Panel Costs in Hampstead
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hampstead, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $4,220 for each additional kilowatt you need.The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make going solar more accessible for Hampstead homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hampstead is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have many options for solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.39 | $18,433 | $13,059 | 14.6 years |
| 8 kW | $4.30 | $24,105 | $17,885 | 14.4 years |
| 10 kW | $4.22 | $29,540 | $22,947 | 14.1 years |
| 12 kW | $4.14 | $34,739 | $28,245 | 13.8 years |
| 14 kW | $4.05 | $39,702 | $33,780 | 13.5 years |
| 16 kW | $3.97 | $44,428 | $39,551 | 13.2 years |
| 18 kW | $3.88 | $48,918 | $45,558 | 12.9 years |
| 20 kW | $3.80 | $53,172 | $51,802 | 12.7 years |
How to Save on Solar Panels
The company that does your solar 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:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers 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 choose.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Hampstead, NH Solar Cost FAQs
How much does it cost to install solar panels in Hampstead?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Hampstead?
Leasing solar panels can be an option if you can’t afford 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home 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."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.