Solar Panel Cost Guide in Newbury, MA (2024 Update)
- Newbury Solar Installation Cost: $12,074
- 25-Year Savings: $16,599
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Newbury
We go over average solar pricing in Newbury.
While the national average of solar panels is $2.66 per watt, solar panels in Newbury generally cost around 4.Using this figure, a typical 4.2-kW system would cost about $12,074 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely look different based on your specific situation and what company you go with.For many homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $23,000 in savings on utility bills over 20 years.
To get a free quote from a vetted solar installation company in Newbury, you can click the button below.
Solar savings over time in Newbury
| Year | Return on Investment |
|---|---|
| 1 years | $-10,351 |
| 3 years | $-6,904 |
| 5 years | $-3,457 |
| 7 years | $-10 |
| 9 years | $3,437 |
| 11 years | $6,884 |
| 13 years | $10,331 |
| 15 years | $13,777 |
| 17 years | $17,224 |
| 19 years | $20,671 |
| 21 years | $24,118 |
| 23 years | $27,565 |
| 25 years | $31,012 |
Top Solar Installers in Newbury
Many homeowners choose to hire a solar installation company since trying to put up solar panels yourself can be hard. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Newbury
Factors that Affect Solar Panel Costs in Newbury
There are a number of factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The model of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Newbury homeowners decide to finance their solar panel systems to make going solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect your pricing. Newbury’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Newbury have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $18,056 | 12.4 years |
| 8 kW | $4.14 | $23,191 | $24,529 | 12.1 years |
| 10 kW | $4.06 | $28,420 | $31,230 | 11.9 years |
| 12 kW | $3.98 | $33,422 | $38,158 | 11.7 years |
| 14 kW | $3.90 | $38,196 | $45,313 | 11.4 years |
| 16 kW | $3.82 | $42,744 | $52,696 | 11.2 years |
| 18 kW | $3.74 | $47,064 | $60,306 | 11.0 years |
| 20 kW | $3.65 | $51,156 | $68,144 | 10.7 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
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 Newbury, MA Solar Cost FAQs
What is the average cost of installing solar panels in Newbury?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Newbury?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newbury is currently $817,549, so you could be looking at a value of about $33,520 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Newbury is a rewarding investment.
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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.