Solar Panel Cost Guide in Newark, NY (2024 Update)

  • Newark Solar Installation Cost: $11,083
  • 25-Year Savings: $7,086
  • Payback Period: 17.3 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

Why you can trust EcoWatch

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 Newark

Find out how much it might cost to make the switch to solar in Newark.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Newark, the typical cost of a solar system is 4 per watt.The average Newark homeowner needs a 4.3-kilowatt system, which would cost about $11,083 with the federal tax credit, or $15,849 before the 0 tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Newark homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Newark can save around $14,000 on their electricity bills over 20 years.

To receive a free estimate from a top solar installation company in Newark, you can click the button below.

Solar savings over time in Newark

Year Return on Investment
1 years $-10,257
3 years $-8,605
5 years $-6,953
7 years $-5,301
9 years $-3,650
11 years $-1,998
13 years $-346
15 years $1,306
17 years $2,958
19 years $4,610
21 years $6,261
23 years $7,913
25 years $9,565

Top Solar Installers in Newark

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make converting to solar power much easier. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

There are various 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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

See all of the solar companies in Newark

Factors that Affect Solar Panel Costs in Newark

Even though the average cost of a solar system in Newark is $11,083, your final cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,650. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Newark, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make switching to solar energy more accessible for Newark homeowners, they can also increase the total you pay for your system due to interest. If you put down 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 green energy can play a role in your total costs. There are about 3 solar panel companies in Newark, and each can charge different amounts for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want and also fit into 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 $6,248 18.0 years
8 kW $3.72 $20,849 $8,739 17.6 years
10 kW $3.65 $25,550 $11,435 17.3 years
12 kW $3.58 $30,047 $14,335 16.9 years
14 kW $3.50 $34,339 $17,439 16.6 years
16 kW $3.43 $38,427 $20,748 16.2 years
18 kW $3.36 $42,311 $24,262 15.9 years
20 kW $3.29 $45,990 $27,979 15.5 years

How to Save on Solar Panels

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

  • Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

EcoWatch's Newark, NY Solar Cost FAQs

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

The average cost of solar panels in Newark 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 things such as the type of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider aside from cost when buying solar panels?

The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.

Can solar panels significantly reduce my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location 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 $739.69 per year.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 buy 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.

Follow us