Solar Panel Cost Guide in Hinesburg, VT (2024 Update)
- Hinesburg Solar Installation Cost: $15,413
- 25-Year Savings: $23,840
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Hinesburg
Let’s take a look at the average cost of solar panels in Hinesburg.
The national average cost of solar panels is $2.66 per watt, but in Hinesburg it’s 4 per watt.To account for the typical energy needs of the average home in Hinesburg, most homeowners require a 5.7-kilowatt system. Using the figure above, a solar installation costs about $15,413, or $22,041 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hinesburg 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.Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Hinesburg can save around $23,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar installer in Hinesburg for a quote for your home.
Solar savings over time in Hinesburg
| Year | Return on Investment |
|---|---|
| 1 years | $-14,052 |
| 3 years | $-11,331 |
| 5 years | $-8,609 |
| 7 years | $-5,887 |
| 9 years | $-3,165 |
| 11 years | $-444 |
| 13 years | $2,278 |
| 15 years | $5,000 |
| 17 years | $7,722 |
| 19 years | $10,443 |
| 21 years | $13,165 |
| 23 years | $15,887 |
| 25 years | $18,609 |
Top Solar Installers in Hinesburg
When making the switch to solar, many homeowners decide to hire a solar installer since installing solar panels yourself can be a difficult project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $15,413, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,850. The model of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider 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 into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Hinesburg, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your total costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Hinesburg, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk 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 | $4.00 | $16,817 | $20,248 | 11.3 years |
| 8 kW | $3.93 | $21,991 | $27,428 | 11.1 years |
| 10 kW | $3.85 | $26,950 | $34,824 | 10.9 years |
| 12 kW | $3.77 | $31,693 | $42,436 | 10.7 years |
| 14 kW | $3.70 | $36,221 | $50,263 | 10.5 years |
| 16 kW | $3.62 | $40,533 | $58,306 | 10.3 years |
| 18 kW | $3.54 | $44,629 | $66,564 | 10.0 years |
| 20 kW | $3.47 | $48,510 | $75,038 | 9.8 years |
How to Save on Solar Panels
The solar installer you opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $19,250 for a 5-kW system and $38,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hinesburg?
Solar panels aren’t free in Hinesburg, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Hinesburg?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.