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

  • Newfane Solar Installation Cost: $10,627
  • 25-Year Savings: $7,383
  • Payback Period: 16.6 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 Newfane

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

Currently, the national average cost of solar panels is $2.66 per watt. However, in Newfane, the average cost of solar panels is 4 per watt.The average solar panel system size in Newfane is around 4.2 kilowatts, meaning a cost of about $10,627 for a solar installation, or $15,197 before the 0 federal solar tax credit is applied.

The true price you pay can be above or below the average in Newfane depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.With average savings of about $15,000 on power bills over 20 years, many homeowners in Newfane find going solar has a decent ROI.

You can click the button below to get connected with a pre-vetted solar installer in Newfane that can help you get a more accurate cost estimate for your home.

Solar savings over time in Newfane

Year Return on Investment
1 years $-9,735
3 years $-7,951
5 years $-6,167
7 years $-4,383
9 years $-2,599
11 years $-815
13 years $969
15 years $2,753
17 years $4,537
19 years $6,321
21 years $8,105
23 years $9,890
25 years $11,674

Top Solar Installers in Newfane

Trying to put up solar panels by yourself can be a challenging undertaking, which is why using a solar installer is a good option for many homeowners. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.

If you're searching for a solar company in Newfane, we've put together a list of our top suggestions here:

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 Newfane

Factors that Affect Solar Panel Costs in Newfane

The cost of installing a solar system in Newfane can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.

Solar Equipment

When it comes to estimating the price of solar panels in Newfane, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Newfane, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

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 Newfane homeowners decide to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Newfane, and each can charge different amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — 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 choose a company that provides the products, warranties and services you’re looking for 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 $7,097 17.3 years
8 kW $3.72 $20,849 $9,871 17.0 years
10 kW $3.65 $25,550 $12,850 16.6 years
12 kW $3.58 $30,047 $16,033 16.3 years
14 kW $3.50 $34,339 $19,421 16.0 years
16 kW $3.43 $38,427 $23,013 15.6 years
18 kW $3.36 $42,311 $26,809 15.3 years
20 kW $3.29 $45,990 $30,810 15.0 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:

  • Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • 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 most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
  • Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
  • Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.

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 Newfane, NY Solar Cost FAQs

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

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is it better to lease or buy solar panels in Newfane?

Leasing solar panels can be an attractive choice, as it often 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 way to go if you want to get the most savings.

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 $768.00 per year.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.

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