Solar Panel Cost Guide in Newport, KY (2024 Update)

  • Newport Solar Installation Cost: $24,826
  • 25-Year Savings: $15,909
  • Payback Period: 19.5 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 Newport

Find out what the average cost of installing solar panels is in Newport.

The national average cost of solar panels is $2.66 per watt, but in Newport it’s 4 per watt.The average solar panel system size in Newport is around 9.7 kilowatts, meaning a cost of about $24,826 for a solar installation, or $35,501 before the 0 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 true cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with.Even with the significant initial cost, the average Newport homeowner can save around $12,000 on their power bills over 20 years, which is one of the perks of solar.

To get a free estimate from a vetted solar installer in Newport, you can click the button below.

Solar savings over time in Newport

Year Return on Investment
1 years $-23,632
3 years $-21,242
5 years $-18,853
7 years $-16,464
9 years $-14,075
11 years $-11,685
13 years $-9,296
15 years $-6,907
17 years $-4,518
19 years $-2,128
21 years $261
23 years $2,650
25 years $5,040

Top Solar Installers in Newport

When going solar, many homeowners opt to hire a solar installation company since putting up solar panels yourself can be a challenging project. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.

If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our suggestions for providers near you:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

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 Newport

Factors that Affect Solar Panel Costs in Newport

While the average cost of a solar system in Newport is $24,826, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than 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 researching a solar system that’s in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Newport to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.

Solar Panel Installation Company

The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Newport, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 $3.80 $15,943 $3,708 20.3 years
8 kW $3.72 $20,849 $5,353 19.9 years
10 kW $3.65 $25,550 $7,202 19.5 years
12 kW $3.58 $30,047 $9,256 19.1 years
14 kW $3.50 $34,339 $11,514 18.7 years
16 kW $3.43 $38,427 $13,977 18.3 years
18 kW $3.36 $42,311 $16,644 17.9 years
20 kW $3.29 $45,990 $19,515 17.6 years

How to Save on Solar Panels

There are many companies to choose from in Newport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: If you’re worried about the longevity of your solar panels, checking if your installer 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 substantial role in the company you go with.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

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 Newport, KY Solar Cost FAQs

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

The average cost of solar panels in Newport is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the actual cost will depend on stuff 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 Newport?

Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.

Can solar panels significantly reduce my energy bills?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $655.05 per year.

How long do solar panels last in Newport?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.

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