Solar Panel Cost Guide in Hanover, PA (2023 Update)
- Hanover Solar Installation Cost: $11,781
- 25-Year Savings: $15,363
- Payback Period: 10.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hanover
Let's have a look at the average cost of solar panels in Hanover.
While the national average of solar panels is $2.66 per watt, solar panels in Hanover generally cost about 2.55. The average Hanover homeowner needs a 6.6-kilowatt system, which would cost about $11,781 with the federal tax credit, or $16,847 before the 30% tax credit is applied.
How much you pay can go above or below the average in Hanover based on a few factors, such as the brand of solar panels you choose and the solar installer you hire. Many homeowners find going solar is a solid investment. The average homeowner in Hanover can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,695 |
| 3 years | $-8,524 |
| 5 years | $-6,352 |
| 7 years | $-4,181 |
| 9 years | $-2,009 |
| 11 years | $162 |
| 13 years | $2,334 |
| 15 years | $4,506 |
| 17 years | $6,677 |
| 19 years | $8,849 |
| 21 years | $11,020 |
| 23 years | $13,192 |
| 25 years | $15,363 |
Top Solar Installers in Hanover
When switching to solar energy, many homeowners decide to use a solar company since installing solar panels yourself can be a difficult project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar company in Hanover, we've put together a list of our top suggestions here:
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 Hanover
Factors that Affect Solar Panel Costs in Hanover
There are a number of criteria that can determine your solar panel 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
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,550. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your power bills. In addition, extra products, like solar batteries, can bump up your total well above the Hanover average.
Solar Financing Terms
Many homeowners find the average cost of solar in Hanover to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest. Though solar loans make going solar more accessible for Hanover homeowners, they can also raise the total you pay for your system due to interest. 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
Lastly, the company you choose to install your solar panel system can influence your pricing. Hanover'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 offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $13,542 | 11.3 years |
| 8 kW | $2.60 | $14,566 | $18,342 | 11.1 years |
| 10 kW | $2.55 | $17,850 | $23,284 | 10.8 years |
| 12 kW | $2.50 | $20,992 | $28,369 | 10.6 years |
| 14 kW | $2.45 | $23,990 | $33,597 | 10.4 years |
| 16 kW | $2.40 | $26,846 | $38,968 | 10.2 years |
| 18 kW | $2.35 | $29,560 | $44,481 | 10.0 years |
| 20 kW | $2.29 | $32,130 | $50,138 | 9.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Hanover, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Hanover, PA Solar Cost FAQs
What is the average cost of installing solar panels in Hanover?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Hanover?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.