Solar Panel Cost Guide in Hopewell, PA (2024 Update)
- Hopewell Solar Installation Cost: $17,357
- 25-Year Savings: $17,246
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Hopewell
Find out what the average cost of a solar system is in Hopewell.
While the national average of solar panels is $2.66 per watt, solar panels in Hopewell generally cost about 4.The average Hopewell homeowner needs a 7.0-kilowatt system, which would cost about $17,357 with the federal tax credit, or $24,821 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Hopewell homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Hopewell see about $16,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Hopewell
| Year | Return on Investment |
|---|---|
| 1 years | $-15,720 |
| 3 years | $-12,446 |
| 5 years | $-9,172 |
| 7 years | $-5,899 |
| 9 years | $-2,625 |
| 11 years | $649 |
| 13 years | $3,923 |
| 15 years | $7,197 |
| 17 years | $10,471 |
| 19 years | $13,744 |
| 21 years | $17,018 |
| 23 years | $20,292 |
| 25 years | $23,566 |
Top Solar Installers in Hopewell
Many homeowners opt for a solar panel company since installing solar panels yourself can be a lot of work. A solar installer can also help save you money over time by offering warranties, repairs and system component replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Hopewell
Factors that Affect Solar Panel Costs in Hopewell
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Hopewell: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of solar panels in Hopewell, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $3,550 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Hopewell homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Hopewell, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 | $3.69 | $15,506 | $10,018 | 15.2 years |
| 8 kW | $3.62 | $20,278 | $13,755 | 14.9 years |
| 10 kW | $3.55 | $24,850 | $17,691 | 14.6 years |
| 12 kW | $3.48 | $29,224 | $21,826 | 14.3 years |
| 14 kW | $3.41 | $33,398 | $26,159 | 14.0 years |
| 16 kW | $3.34 | $37,374 | $30,692 | 13.7 years |
| 18 kW | $3.27 | $41,152 | $35,423 | 13.4 years |
| 20 kW | $3.19 | $44,730 | $40,353 | 13.1 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. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Hopewell, PA Solar Cost FAQs
How much does it cost to install solar panels in Hopewell?
The average cost of solar panels in Hopewell is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Hopewell?
You can’t get solar panels for free in Hopewell. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Hopewell, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Hopewell?
Though 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 decide 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.