Solar Panel Cost Guide in Newburgh, NY (2024 Update)
- Newburgh Solar Installation Cost: $11,058
- 25-Year Savings: $13,153
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Newburgh
Find out how much it might cost to install solar panels in Newburgh.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Newburgh, the typical cost of solar panels is 4 per watt.The average solar panel system size in Newburgh is around 4.3 kilowatts, meaning a cost of about $11,058 for a solar installation, or $15,813 before the 0 federal solar tax credit is applied.
The true cost of your system can go above or below the average in Newburgh depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar panels is worth paying. On average Newburgh homeowners see about $19,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Newburgh
| Year | Return on Investment |
|---|---|
| 1 years | $-9,794 |
| 3 years | $-7,268 |
| 5 years | $-4,742 |
| 7 years | $-2,215 |
| 9 years | $311 |
| 11 years | $2,838 |
| 13 years | $5,364 |
| 15 years | $7,890 |
| 17 years | $10,417 |
| 19 years | $12,943 |
| 21 years | $15,470 |
| 23 years | $17,996 |
| 25 years | $20,522 |
Top Solar Installers in Newburgh
Although you can install solar panels yourself, it involves extra energy and handiness. That's one of the reasons most people choose a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Newburgh
Factors that Affect Solar Panel Costs in Newburgh
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Newburgh: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment goes beyond 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 looking into a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Newburgh homeowners decide to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can impact how much it costs. Newburgh’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Newburgh know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $3.80 | $15,943 | $14,682 | 13.0 years |
| 8 kW | $3.72 | $20,849 | $19,985 | 12.8 years |
| 10 kW | $3.65 | $25,550 | $25,492 | 12.5 years |
| 12 kW | $3.58 | $30,047 | $31,204 | 12.3 years |
| 14 kW | $3.50 | $34,339 | $37,120 | 12.0 years |
| 16 kW | $3.43 | $38,427 | $43,240 | 11.8 years |
| 18 kW | $3.36 | $42,311 | $49,565 | 11.5 years |
| 20 kW | $3.29 | $45,990 | $56,094 | 11.3 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Newburgh, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
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 Newburgh, NY Solar Cost FAQs
What is the average cost of installing solar panels in Newburgh?
The average cost of solar panels in Newburgh 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Newburgh?
You can’t get solar panels for free in Newburgh. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Newburgh?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 amount 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.