Solar Panel Cost Guide in Nashua, NH (Mar 2023)
- Nashua 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 Nashua
See how much it might cost to switch to solar power in Nashua.
In Nashua, solar panels cost about 2.91 per watt on average. The average solar panel system size in Nashua is around 5.0 kilowatts, meaning a cost of about $10,083 for a solar installation, or $14,419 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Nashua
| 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 Nashua
Many homeowners opt for a solar installer since installing solar panels by yourself can be a labor-intensive endeavor. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
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 Nashua
Factors that Affect Solar Panel Costs in Nashua
For many Nashua homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Nashua, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,910. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Nashua, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installation company you choose will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 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:
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Nashua, NH Solar Cost FAQs
How much does it cost to install solar panels in Nashua?
This is a tough question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Nashua?
Leasing solar panels can be an option if you can't 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 financial benefits from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value remarkably 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?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.