Solar Panel Cost Guide in Hopkinton, NH (Mar 2023)
- Hopkinton Solar Installation Cost: $10,144
- 25-Year Savings: $13,572
- Payback Period: 10.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hopkinton
We break down average solar pricing in Hopkinton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hopkinton, the average cost of solar panels is 2.91 per watt. The average solar panel system size in Hopkinton is around 5.0 kilowatts, meaning a cost of about $10,144 for a solar installation, or $14,506 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hopkinton can save around $18,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Hopkinton for a quote for your home.
Solar savings over time in Hopkinton
| Year | Return on Investment |
|---|---|
| 1 years | $-9,196 |
| 3 years | $-7,298 |
| 5 years | $-5,401 |
| 7 years | $-3,504 |
| 9 years | $-1,606 |
| 11 years | $291 |
| 13 years | $2,188 |
| 15 years | $4,086 |
| 17 years | $5,983 |
| 19 years | $7,880 |
| 21 years | $9,778 |
| 23 years | $11,675 |
| 25 years | $13,572 |
Top Solar Installers in Hopkinton
Many homeowners choose to use a solar panel installer since trying to install solar panels on your own can be hard. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some near you:
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 Hopkinton
Factors that Affect Solar Panel Costs in Hopkinton
The cost of installing a solar system in Hopkinton can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 pay around $2,910 per kilowatt in Hopkinton. The kind of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment is 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 looking into a solar system that's in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make adopting solar energy more accessible for Hopkinton homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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
The solar installer you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Hopkinton, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $3.03 | $12,711 | $15,865 | 11.1 years |
| 8 kW | $2.97 | $16,622 | $21,479 | 10.9 years |
| 10 kW | $2.91 | $20,370 | $27,256 | 10.7 years |
| 12 kW | $2.85 | $23,955 | $33,197 | 10.5 years |
| 14 kW | $2.79 | $27,377 | $39,300 | 10.3 years |
| 16 kW | $2.74 | $30,636 | $45,566 | 10.1 years |
| 18 kW | $2.68 | $33,733 | $51,995 | 9.8 years |
| 20 kW | $2.62 | $36,666 | $58,587 | 9.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- 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 significant role in the company you choose.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: If you care about the durability of your solar energy system, checking if 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 Hopkinton, NH Solar Cost FAQs
What is the average cost of installing solar panels in Hopkinton?
This is a tough question to answer exactly, because the cost depends on many 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Hopkinton?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside 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 get the most savings.
How will installing solar panels impact my property value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't opt 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 a solar system."
How often do you have to replace solar panels?
On average, solar panels can last 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 larger 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.