Solar Panel Cost Guide in Northwood, NH (2023 Update)
- Northwood Solar Installation Cost: $9,818
- 25-Year Savings: $16,982
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Northwood
Let's take a look at the average cost of solar in Northwood.
The national average cost of solar panels is $2.66 per watt, but in Northwood it's 2.91 per watt. To cover the typical energy needs of the average home in Northwood, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs around $9,818, or $14,040 before the federal solar tax credit of 30% is applied.
How much you pay can be above or below the average in Northwood based on several factors, such as the type of solar panels you choose and the solar installer you hire. With typical savings of about $21,000 on power bills over 20 years, many homeowners in Northwood find going solar can pay off big.
To get a free quote from a pre-vetted solar company in Northwood, you can click the button below.
Solar savings over time in Northwood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,746 |
| 3 years | $-6,602 |
| 5 years | $-4,458 |
| 7 years | $-2,314 |
| 9 years | $-170 |
| 11 years | $1,974 |
| 13 years | $4,118 |
| 15 years | $6,262 |
| 17 years | $8,406 |
| 19 years | $10,550 |
| 21 years | $12,694 |
| 23 years | $14,838 |
| 25 years | $16,982 |
Top Solar Installers in Northwood
When going solar, many homeowners prefer to use a solar company since handling can be a time-consuming project. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost 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 Northwood
Factors that Affect Solar Panel Costs in Northwood
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Northwood, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,910 for each additional kilowatt you need. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Northwood average.
Solar Financing Terms
Many homeowners find the average cost of solar in Northwood to be too steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest. Even though solar loans make adopting solar energy more accessible for Northwood homeowners, they can also increase 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 avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installation company you pick will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Northwood are more knowledgeable about local solar incentives and can help you take advantage of 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 | $20,655 | 9.5 years |
| 8 kW | $2.97 | $16,622 | $27,866 | 9.3 years |
| 10 kW | $2.91 | $20,370 | $35,240 | 9.2 years |
| 12 kW | $2.85 | $23,955 | $42,776 | 9.0 years |
| 14 kW | $2.79 | $27,377 | $50,476 | 8.8 years |
| 16 kW | $2.74 | $30,636 | $58,339 | 8.6 years |
| 18 kW | $2.68 | $33,733 | $66,365 | 8.4 years |
| 20 kW | $2.62 | $36,666 | $74,553 | 8.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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 Northwood, NH Solar Cost FAQs
How much does it cost to install solar panels in Northwood?
This is a hard question to answer precisely, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity 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 $1,112.19 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.