Solar Panel Cost Guide in Hinesburg, VT (2023 Update)
- Hinesburg Solar Installation Cost: $11,491
- 25-Year Savings: $23,839
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hinesburg
See how much it might cost to switch to solar power in Hinesburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hinesburg, the average cost of a solar system is 2.87 per watt. Using this figure, a typical 5.7-kW system would cost about $11,491 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Despite the large initial cost, the average Hinesburg homeowner can save around $23,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a pre-vetted solar installer in Hinesburg for a quote for your home.
Solar savings over time in Hinesburg
| Year | Return on Investment |
|---|---|
| 1 years | $-10,078 |
| 3 years | $-7,252 |
| 5 years | $-4,425 |
| 7 years | $-1,599 |
| 9 years | $1,227 |
| 11 years | $4,054 |
| 13 years | $6,880 |
| 15 years | $9,707 |
| 17 years | $12,533 |
| 19 years | $15,359 |
| 21 years | $18,186 |
| 23 years | $21,012 |
| 25 years | $23,839 |
Top Solar Installers in Hinesburg
Although you can install solar panels on your own, it requires extra energy and expertise. That's why almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
If you're looking for a solar company in Hinesburg, the EcoWatch team has organized a list of our top suggestions here:
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 Hinesburg
Factors that Affect Solar Panel Costs in Hinesburg
Although the average cost of a solar system in Hinesburg is $11,491, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,870 per kilowatt in Hinesburg. The 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 in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Hinesburg average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to include 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $2.98 | $12,536 | $24,528 | 8.5 years |
| 8 kW | $2.93 | $16,393 | $33,026 | 8.3 years |
| 10 kW | $2.87 | $20,090 | $41,684 | 8.1 years |
| 12 kW | $2.81 | $23,626 | $50,503 | 8.0 years |
| 14 kW | $2.76 | $27,001 | $59,483 | 7.8 years |
| 16 kW | $2.70 | $30,215 | $68,623 | 7.6 years |
| 18 kW | $2.64 | $33,269 | $77,924 | 7.5 years |
| 20 kW | $2.58 | $36,162 | $87,386 | 7.3 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. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which installer you should choose, since different companies have access to different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
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 Hinesburg, VT Solar Cost FAQs
What is the average cost of installing solar panels in Hinesburg?
The average cost of solar panels in Hinesburg is about $14,350 for a 5-kW system and $28,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Hinesburg?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Hinesburg?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use 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.