Solar Panel Cost Guide in Hampden, PA (2023 Update)
- Hampden Solar Installation Cost: $11,892
- 25-Year Savings: $12,418
- Payback Period: 12.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Hampden
Find out what the average cost of solar panels are in Hampden.
Although the national average of solar panels is $2.66 per watt, solar panels in Hampden generally cost about 2.55. The average solar panel system size in Hampden is around 6.7 kilowatts, meaning a cost of about $11,888 for a solar installation, or $17,000 before the 30% federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may look different based on factors unique to your home and what company you choose to go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in Hampden that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hampden
| Year | Return on Investment |
|---|---|
| 1 years | $-10,547 |
| 3 years | $-7,856 |
| 5 years | $-5,164 |
| 7 years | $-2,473 |
| 9 years | $218 |
| 11 years | $2,909 |
| 13 years | $5,600 |
| 15 years | $8,291 |
| 17 years | $10,983 |
| 19 years | $13,674 |
| 21 years | $16,365 |
| 23 years | $19,056 |
| 25 years | $21,747 |
Top Solar Installers in Hampden
Many homeowners decide to hire a solar installer since trying to install solar panels on your own can be challenging. Companies can also have access to a large variety of the best solar panels and help you choose which one will be right for your home.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some in Hampden:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Hampden
Factors that Affect Solar Panel Costs in Hampden
Even though the average cost of a solar system in Hampden is $11,888, your final cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Hampden, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $2,550 for each additional kilowatt you need. The brand of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Hampden homeowners choose to finance their solar panel systems to make going solar more affordable. Although solar loans make going solar more accessible for Hampden homeowners, they can also raise 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
Finally, the company you hire to install your solar panels can influence your pricing. Hampden's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $2.65 | $11,138 | $10,755 | 12.7 years |
| 8 kW | $2.60 | $14,566 | $14,626 | 12.5 years |
| 10 kW | $2.55 | $17,850 | $18,639 | 12.2 years |
| 12 kW | $2.50 | $20,992 | $22,795 | 12.0 years |
| 14 kW | $2.45 | $23,990 | $27,094 | 11.7 years |
| 16 kW | $2.40 | $26,846 | $31,536 | 11.5 years |
| 18 kW | $2.35 | $29,560 | $36,121 | 11.3 years |
| 20 kW | $2.29 | $32,130 | $40,848 | 11.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Hampden, PA Solar Cost FAQs
How much does it cost to install solar panels in Hampden?
The average cost of solar panels in Hampden is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Hampden?
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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Hampden?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Hampden?
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 replace them after having 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.