Solar Panel Cost Guide in Hanover, MA (2024 Update)
- Hanover Solar Installation Cost: $11,760
- 25-Year Savings: $17,408
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Hanover
We go over average solar pricing in Hanover.
The average cost of a solar panel system in Hanover is 4 per watt.The average Hanover homeowner needs a 4.1-kilowatt system, which would cost about $11,760 with the federal tax credit, or $16,817 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar system you choose, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Hanover can save around $24,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Hanover for a quote for your home.
Solar savings over time in Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,037 |
| 3 years | $-6,590 |
| 5 years | $-3,143 |
| 7 years | $304 |
| 9 years | $3,751 |
| 11 years | $7,198 |
| 13 years | $10,644 |
| 15 years | $14,091 |
| 17 years | $17,538 |
| 19 years | $20,985 |
| 21 years | $24,432 |
| 23 years | $27,879 |
| 25 years | $31,326 |
Top Solar Installers in Hanover
When going solar, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a challenging project. Some solar companies, particularly local ones, can help you make the most of incentives in Hanover, optimizing your ROI.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
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 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 Hanover
Factors that Affect Solar Panel Costs in Hanover
Though the average cost of a solar system in Hanover is $11,760, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar panel system in Hanover, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The type of solar equipment you choose can increase or decrease your cost 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. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Hanover average.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating in Hanover, 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 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 | $4.22 | $17,734 | $19,855 | 11.8 years |
| 8 kW | $4.14 | $23,191 | $26,928 | 11.6 years |
| 10 kW | $4.06 | $28,420 | $34,229 | 11.3 years |
| 12 kW | $3.98 | $33,422 | $41,757 | 11.1 years |
| 14 kW | $3.90 | $38,196 | $49,512 | 10.9 years |
| 16 kW | $3.82 | $42,744 | $57,494 | 10.7 years |
| 18 kW | $3.74 | $47,064 | $65,704 | 10.4 years |
| 20 kW | $3.65 | $51,156 | $74,142 | 10.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose significantly impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 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 Hanover, MA Solar Cost FAQs
How much does it cost to install solar panels in Hanover?
The average cost of solar panels in Hanover is about $20,300 for a 5-kW system and $40,600 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 use.
Can you get solar panels for free in Hanover?
You can’t get solar panels for free in Hanover. 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’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had 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.