Solar Panel Cost Guide in Hillsborough, NH (Mar 2023)
- Hillsborough Solar Installation Cost: $10,083
- 25-Year Savings: $14,917
- Payback Period: 10.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hillsborough
We break down average solar pricing in Hillsborough.
While the national average of solar panels is $2.66 per watt, solar panels in Hillsborough generally cost about 2.91. To cover the typical energy needs of the average home in Hillsborough, most homeowners require a 5.0-kilowatt system. Using the figure above, a solar installation costs about $10,083, or $14,419 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Hillsborough can save around $19,000 on their power bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hillsborough
| Year | Return on Investment |
|---|---|
| 1 years | $-9,083 |
| 3 years | $-7,083 |
| 5 years | $-5,083 |
| 7 years | $-3,083 |
| 9 years | $-1,083 |
| 11 years | $917 |
| 13 years | $2,917 |
| 15 years | $4,917 |
| 17 years | $6,917 |
| 19 years | $8,917 |
| 21 years | $10,917 |
| 23 years | $12,917 |
| 25 years | $14,917 |
Top Solar Installers in Hillsborough
Although you can install solar panels on your own, it involves extra energy and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and component replacements.
Working with a professional solar installer can help your solar project go smoothly. 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 Hillsborough
Factors that Affect Solar Panel Costs in Hillsborough
The cost of installing a solar system in Hillsborough can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
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 consumes, the larger your system will likely need to be. You can expect to pay around $2,910 per kilowatt in Hillsborough. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bump up your total well above the Hillsborough average.
Solar Financing Terms
Many homeowners find the average cost of solar in Hillsborough to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Hillsborough are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $17,583 | 10.5 years |
| 8 kW | $2.97 | $16,622 | $23,770 | 10.3 years |
| 10 kW | $2.91 | $20,370 | $30,120 | 10.1 years |
| 12 kW | $2.85 | $23,955 | $36,632 | 9.9 years |
| 14 kW | $2.79 | $27,377 | $43,308 | 9.7 years |
| 16 kW | $2.74 | $30,636 | $50,147 | 9.5 years |
| 18 kW | $2.68 | $33,733 | $57,148 | 9.3 years |
| 20 kW | $2.62 | $36,666 | $64,313 | 9.1 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Hillsborough, NH Solar Cost FAQs
How much does it cost to install solar panels in Hillsborough?
This is a tough question to answer exactly, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Hillsborough?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,009.79 per year.
How long do solar panels last in Hillsborough?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.