Solar Panel Cost Guide in Newbury, OH (2024 Update)
- Newbury Solar Installation Cost: $18,571
- 25-Year Savings: $13,281
- Payback Period: 17.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Newbury
Find out how much it might cost to make the switch to solar in Newbury.
While the national average of solar panels is $2.66 per watt, solar panels in Newbury typically cost around 3.Using this figure, a typical 7.8-kW system would cost about $18,571 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will look different based on factors unique to your home and what company you choose to go with.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Newbury see about $13,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Newbury
Year | Return on Investment |
---|---|
1 years | $-17,317 |
3 years | $-14,810 |
5 years | $-12,302 |
7 years | $-9,794 |
9 years | $-7,287 |
11 years | $-4,779 |
13 years | $-2,272 |
15 years | $236 |
17 years | $2,744 |
19 years | $5,251 |
21 years | $7,759 |
23 years | $10,267 |
25 years | $12,774 |
Top Solar Installers in Newbury
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make switching to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Newbury
Factors that Affect Solar Panel Costs in Newbury
The cost of installing a solar system in Newbury can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,410. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Newbury, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
If paying for a solar system in cash is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Newbury, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.55 | $14,895 | $6,099 | 17.7 years |
8 kW | $3.48 | $19,478 | $8,514 | 17.4 years |
10 kW | $3.41 | $23,870 | $11,120 | 17.1 years |
12 kW | $3.34 | $28,071 | $13,917 | 16.7 years |
14 kW | $3.27 | $32,081 | $16,905 | 16.4 years |
16 kW | $3.21 | $35,900 | $20,084 | 16.0 years |
18 kW | $3.14 | $39,529 | $23,454 | 15.7 years |
20 kW | $3.07 | $42,966 | $27,015 | 15.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Newbury, OH Solar Cost FAQs
How much does it cost to install solar panels in Newbury?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,050 for a 5-kW system and $34,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 cover 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.