Solar Panel Cost Guide in Newfield, NY (2024 Update)
- Newfield Solar Installation Cost: $11,905
- 25-Year Savings: $5,178
- Payback Period: 20.1 Years
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Average Cost of Solar Panels in Newfield
We break down average solar pricing in Newfield.
The average cost of a solar system in Newfield is 4 per watt.The average Newfield homeowner needs a 4.7-kilowatt system, which would cost about $11,905 with the federal tax credit, or $17,024 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Newfield see about $12,000 in savings on electricity bills over 20 years.
To receive a free estimate from a top solar installer in Newfield, you can click the button below.
Solar savings over time in Newfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,080 |
| 3 years | $-9,428 |
| 5 years | $-7,776 |
| 7 years | $-6,124 |
| 9 years | $-4,472 |
| 11 years | $-2,820 |
| 13 years | $-1,169 |
| 15 years | $483 |
| 17 years | $2,135 |
| 19 years | $3,787 |
| 21 years | $5,439 |
| 23 years | $7,091 |
| 25 years | $8,743 |
Top Solar Installers in Newfield
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels yourself can be time-consuming. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you're looking for a solar company in Newfield, we've put together a list of our top suggestions here:
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 Newfield
Factors that Affect Solar Panel Costs in Newfield
There are a number of criteria that can affect your solar system 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
When it comes to estimating the cost of a solar energy system in Newfield, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, 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.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Newfield average.
Solar Financing Terms
Most solar installers in Newfield provide solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Newfield, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $3,114 | 20.9 years |
| 8 kW | $3.72 | $20,849 | $4,560 | 20.5 years |
| 10 kW | $3.65 | $25,550 | $6,212 | 20.1 years |
| 12 kW | $3.58 | $30,047 | $8,067 | 19.7 years |
| 14 kW | $3.50 | $34,339 | $10,127 | 19.3 years |
| 16 kW | $3.43 | $38,427 | $12,391 | 18.9 years |
| 18 kW | $3.36 | $42,311 | $14,860 | 18.5 years |
| 20 kW | $3.29 | $45,990 | $17,533 | 18.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- 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 panels are installed, such as updating your electrical system or roof.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Newfield, NY Solar Cost FAQs
How much does it cost to install solar panels in Newfield?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important 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 think about are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newfield is currently $177,950, so you can expect a value of about $7,296 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Newfield is a rewarding investment.
How long do solar panels last in Newfield?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.