Solar Panel Cost Guide in Hillsborough, NH (2023 Update)
- Hillsborough Solar Installation Cost: $10,086
- 25-Year Savings: $14,914
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hillsborough
We go over average solar pricing in Hillsborough.
In Hillsborough, solar panels cost about 2.91 per watt on average. Because a 5.0-kW system is needed to cover the energy needs of a typical home in Hillsborough, the average price of going solar will be about $10,083 after claiming the federal solar tax credit of 30%.
How much you pay can be above or below the average in Hillsborough depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Hillsborough
| Year | Return on Investment |
|---|---|
| 1 years | $-8,680 |
| 3 years | $-5,866 |
| 5 years | $-3,052 |
| 7 years | $-239 |
| 9 years | $2,575 |
| 11 years | $5,389 |
| 13 years | $8,202 |
| 15 years | $11,016 |
| 17 years | $13,830 |
| 19 years | $16,643 |
| 21 years | $19,457 |
| 23 years | $22,271 |
| 25 years | $25,084 |
Top Solar Installers in Hillsborough
Although you can install solar panels by yourself, it takes extra effort and know-how. That's why almost all homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be invaluable as well, especially if you don't quite know what brand of solar equipment you need.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
Although the average cost of a solar system in Hillsborough is $10,083, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,910 per kilowatt in Hillsborough. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Hillsborough, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Hillsborough, you'll have many options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Hillsborough have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- 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.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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?
The average cost of solar panels in Hillsborough is about $14,550 for a 5-kW system and $29,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Hillsborough?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hillsborough is currently $197,823, which means you could be looking at a value of about $8,111 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Hillsborough is a worthwhile investment.
How long do solar panels last in Hillsborough?
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 decide to replace them once you've had 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.