Solar Panel Cost Guide in Hanover, NH (2023 Update)
- Hanover Solar Installation Cost: $10,517
- 25-Year Savings: $16,283
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hanover
See how much it might cost to go solar in Hanover.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hanover, the typical cost of a solar system is 2.91 per watt. Using this figure, a typical 5.2-kW system would cost about $10,511 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what installation company you go with. Even with the large initial cost, the average Hanover homeowner can save around $20,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a top solar installer in Hanover for a quote for your home.
Solar savings over time in Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,428 |
| 3 years | $-10,249 |
| 5 years | $-10,071 |
| 7 years | $-9,892 |
| 9 years | $-9,713 |
| 11 years | $-9,535 |
| 13 years | $-9,356 |
| 15 years | $-9,177 |
| 17 years | $-8,999 |
| 19 years | $-8,820 |
| 21 years | $-8,641 |
| 23 years | $-8,463 |
| 25 years | $-8,284 |
Top Solar Installers in Hanover
Many homeowners choose to use a solar installation company since figuring out how to install solar panels by yourself can be hard. Plus, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
Working with a vetted solar company can make going solar easier. 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 Hanover
Factors that Affect Solar Panel Costs in Hanover
The cost of installing a solar system in Hanover can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,910. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Hanover, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can affect your pricing. Hanover's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hanover have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $18,432 | 10.2 years |
| 8 kW | $2.97 | $16,622 | $24,903 | 10.0 years |
| 10 kW | $2.91 | $20,370 | $31,536 | 9.8 years |
| 12 kW | $2.85 | $23,955 | $38,332 | 9.6 years |
| 14 kW | $2.79 | $27,377 | $45,291 | 9.4 years |
| 16 kW | $2.74 | $30,636 | $52,413 | 9.2 years |
| 18 kW | $2.68 | $33,733 | $59,697 | 9.0 years |
| 20 kW | $2.62 | $36,666 | $67,145 | 8.8 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: The brand of solar panel you need to install plays a role in which company you should go with, since different companies have access to different panels.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you care about the endurance of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Hanover, NH Solar Cost FAQs
What is the average cost of installing solar panels in Hanover?
The average cost of solar panels in Hanover is about $14,550 for a 5-kW system and $29,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hanover?
You can't get solar panels for free in Hanover. 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 prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Hanover?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Hanover?
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 the amount of energy they produce will have decreased significantly after that point. You can 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.