Solar Panel Cost Guide in Hopewell, PA (Mar 2023)
- Hopewell Solar Installation Cost: $12,459
- 25-Year Savings: $17,255
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Hopewell
Here's how much it might cost to switch to solar power in Hopewell.
The average cost of a solar system in Hopewell is 2.55 per watt. The average Hopewell homeowner needs a 7.0-kilowatt system, which would cost about $12,459 with the federal tax credit, or $17,816 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. For many homeowners, the upfront investment in solar is worth paying. On average Hopewell homeowners see about $16,000 in savings on energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Hopewell
| Year | Return on Investment |
|---|---|
| 1 years | $-11,271 |
| 3 years | $-8,894 |
| 5 years | $-6,516 |
| 7 years | $-4,139 |
| 9 years | $-1,762 |
| 11 years | $615 |
| 13 years | $2,992 |
| 15 years | $5,369 |
| 17 years | $7,746 |
| 19 years | $10,123 |
| 21 years | $12,500 |
| 23 years | $14,878 |
| 25 years | $17,255 |
Top Solar Installers in Hopewell
Putting up solar panels by yourself can be a difficult project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Hopewell
Factors that Affect Solar Panel Costs in Hopewell
While the average cost of a solar system in Hopewell is $12,459, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system 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 mainly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,550 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Hopewell homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Hopewell is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services for different budgets. 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 major players.
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 | $14,386 | 10.9 years |
| 8 kW | $2.60 | $14,566 | $19,467 | 10.7 years |
| 10 kW | $2.55 | $17,850 | $24,691 | 10.5 years |
| 12 kW | $2.50 | $20,992 | $30,058 | 10.3 years |
| 14 kW | $2.45 | $23,990 | $35,567 | 10.1 years |
| 16 kW | $2.40 | $26,846 | $41,220 | 9.9 years |
| 18 kW | $2.35 | $29,560 | $47,015 | 9.7 years |
| 20 kW | $2.29 | $32,130 | $52,953 | 9.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Hopewell, PA Solar Cost FAQs
How much does it cost to install solar panels in Hopewell?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,750 for a 5-kW system and $25,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient 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 certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Hopewell have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 buy 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.