Solar Panel Cost Guide in Hopkinton, RI (Dec 2022)

  • Hopkinton Solar Installation Cost: $7,853
  • 25-Year Savings: $14,094
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Hopkinton

Let's have a look at the average cost of solar in Hopkinton.

The national average cost of solar panels is $2.66 per watt, but in Hopkinton it's $3 per watt. The average Hopkinton homeowner needs a 4.0-kilowatt system, which would cost about $7,853, or $5,811 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $21,000 on energy bills over 20 years, many homeowners in Hopkinton find investing in solar can pay off big.

You can click the button below to get connected with a top solar company in Hopkinton that can help you get a more accurate cost estimate for your home.

Solar savings over time in Hopkinton

Year Return on Investment
1 years $-6,975
3 years $-5,219
5 years $-3,463
7 years $-1,708
9 years $48
11 years $1,804
13 years $3,560
15 years $5,315
17 years $7,071
19 years $8,827
21 years $10,583
23 years $12,338
25 years $14,094

Top Solar Installers in Hopkinton

Many homeowners choose to use a solar installation company since trying to put up solar panels on your own can be a lot of work. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.

If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Hopkinton

Factors that Affect Solar Panel Costs in Hopkinton

The cost of installing a solar system in Hopkinton can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the cost of solar panels in Hopkinton, 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 consumption, which you can determine by looking at past energy bills. Your total cost can increase by about $2,840 for each additional kilowatt you need. 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 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, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Hopkinton average.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Hopkinton, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

The final key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Hopkinton, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, 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 $2.95 $12,405 $20,906 9.3 years
8 kW $2.90 $16,222 $28,193 9.1 years
10 kW $2.84 $19,880 $35,639 9.0 years
12 kW $2.78 $23,379 $43,244 8.8 years
14 kW $2.73 $26,719 $51,008 8.6 years
16 kW $2.67 $29,900 $58,931 8.4 years
18 kW $2.61 $32,921 $67,013 8.2 years
20 kW $2.56 $35,784 $75,254 8.1 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 find the right company for you, here are some tips to keep in mind:

  • Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline rebates and warranties.
  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Hopkinton, RI Solar Cost FAQs

What is the average cost of installing solar panels in Hopkinton?

The average cost of solar panels in Hopkinton is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Hopkinton?

You can't get solar panels for free in Hopkinton. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Can you sell solar power back to the grid in Hopkinton?

Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future utility 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?

To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.

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