Solar Panel Cost Guide in Hanover, NH (2024 Update)

  • Hanover Solar Installation Cost: $15,252
  • 25-Year Savings: $16,283
  • Payback Period: 14.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hanover

See how much it might cost to go solar in Hanover.

The average cost of solar panels in Hanover is 4 per watt.Because a 5.2-kW system is needed to cover the energy consumption of a typical home in Hanover, the average price of going solar will be about $15,252 after claiming the federal solar tax credit of 0.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of equipment you choose, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hanover can save around $20,000 on their electricity bills over 20 years.

For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Hanover

Year Return on Investment
1 years $-13,845
3 years $-11,032
5 years $-8,218
7 years $-5,404
9 years $-2,591
11 years $223
13 years $3,037
15 years $5,850
17 years $8,664
19 years $11,478
21 years $14,291
23 years $17,105
25 years $19,919

Top Solar Installers in Hanover

Putting up solar panels on your own can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. Another advantage of going with a solar company is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Hanover

Factors that Affect Solar Panel Costs in Hanover

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Hanover: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,220. There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Hanover to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The solar company you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies in Hanover, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $4.39 $18,433 $12,710 14.8 years
8 kW $4.30 $24,105 $17,420 14.5 years
10 kW $4.22 $29,540 $22,366 14.2 years
12 kW $4.14 $34,739 $27,548 13.9 years
14 kW $4.05 $39,702 $32,966 13.7 years
16 kW $3.97 $44,428 $38,621 13.4 years
18 kW $3.88 $48,918 $44,512 13.1 years
20 kW $3.80 $53,172 $50,639 12.8 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 pick the right company for you, here are some tips to keep in mind:

  • Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
  • Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.

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 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

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Hanover, NH Solar Cost FAQs

How much does it cost to install solar panels in Hanover?

This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $21,100 for a 5-kW system and $42,200 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Hanover?

Leasing solar panels can be an option if you can’t pay upfront or secure 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 savings from going solar.

Is it worth going solar in Hanover?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

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 the amount of 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 get between 20 and 35 panels to account for 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.

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