Solar Panel Cost Guide in Hanover, NY (2024 Update)
- Hanover Solar Installation Cost: $11,849
- 25-Year Savings: $6,183
- Payback Period: 18.8 Years
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Average Cost of Solar Panels in Hanover
Find out what the average cost of solar panels are in Hanover.
The average cost of solar panels in Hanover is 4 per watt.To cover the typical energy needs of the average home in Hanover, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,849, or $16,944 before the federal solar tax credit of 0 is applied.
How much you pay can be higher or lower than the average in Hanover based on several factors, such as the model of solar panels you choose and the solar installer you hire.For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Hanover see about $13,000 in savings on utility bills over 20 years.
To get a free quote from a vetted solar installer in Hanover, you can click the button below.
Solar savings over time in Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-11,023 |
| 3 years | $-9,371 |
| 5 years | $-7,719 |
| 7 years | $-6,068 |
| 9 years | $-4,416 |
| 11 years | $-2,764 |
| 13 years | $-1,112 |
| 15 years | $540 |
| 17 years | $2,192 |
| 19 years | $3,843 |
| 21 years | $5,495 |
| 23 years | $7,147 |
| 25 years | $8,799 |
Top Solar Installers in Hanover
Although it's possible to install solar panels yourself, it involves extra energy and expertise. That's why almost all homeowners choose to hire a solar panel installer. The payback period of solar panels will vary based on factors like your location and energy use, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar installer in Hanover, we've compiled a list of our top suggestions here:
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
For many Hanover homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Hanover, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Hanover provide solar loans, which reduce your upfront costs of installing solar.While solar loans make going solar more accessible for Hanover homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Hanover, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $4,446 | 19.5 years |
| 8 kW | $3.72 | $20,849 | $6,337 | 19.2 years |
| 10 kW | $3.65 | $25,550 | $8,432 | 18.8 years |
| 12 kW | $3.58 | $30,047 | $10,732 | 18.4 years |
| 14 kW | $3.50 | $34,339 | $13,236 | 18.0 years |
| 16 kW | $3.43 | $38,427 | $15,944 | 17.7 years |
| 18 kW | $3.36 | $42,311 | $18,857 | 17.3 years |
| 20 kW | $3.29 | $45,990 | $21,974 | 16.9 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: If you’re worried about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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, NY Solar Cost FAQs
What is the average cost of installing solar panels in Hanover?
The average cost of solar panels in Hanover is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Hanover?
Solar panels aren’t free in Hanover, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Hanover?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.