Solar Panel Cost Guide in Newport, OR (2024 Update)
- Newport Solar Installation Cost: $10,123
- 25-Year Savings: $14,768
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Newport
See how much it might cost to make the switch to solar in Newport.
While the national average of solar panels is $2.66 per watt, solar panels in Newport generally cost about 4.To account for the typical energy needs of the average home in Newport, most homeowners require a 4.1-kilowatt system. Using the figure above, a solar installation costs around $10,123, or $14,476 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what installation company you go with.Despite the high upfront cost, the average Newport homeowner can save around $22,000 on their power bills over 20 years, which is one of the perks of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Newport
| Year | Return on Investment |
|---|---|
| 1 years | $-9,005 |
| 3 years | $-6,769 |
| 5 years | $-4,533 |
| 7 years | $-2,297 |
| 9 years | $-61 |
| 11 years | $2,175 |
| 13 years | $4,411 |
| 15 years | $6,647 |
| 17 years | $8,883 |
| 19 years | $11,119 |
| 21 years | $13,355 |
| 23 years | $15,591 |
| 25 years | $17,826 |
Top Solar Installers in Newport
Although you can install solar panels yourself, it takes extra effort and knowledge. That's why most homeowners choose to hire a solar panel installer. The payback period of solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Newport
Factors that Affect Solar Panel Costs in Newport
There are several criteria that can affect your 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 system in Newport, one of the most crucial 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 usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,500 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down 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. However, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Newport average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Newport, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Newport is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Newport are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $3.64 | $15,288 | $17,336 | 11.7 years |
| 8 kW | $3.57 | $19,992 | $23,507 | 11.5 years |
| 10 kW | $3.50 | $24,500 | $29,873 | 11.3 years |
| 12 kW | $3.43 | $28,812 | $36,436 | 11.0 years |
| 14 kW | $3.36 | $32,928 | $43,194 | 10.8 years |
| 16 kW | $3.29 | $36,848 | $50,149 | 10.6 years |
| 18 kW | $3.22 | $40,572 | $57,300 | 10.4 years |
| 20 kW | $3.15 | $44,100 | $64,646 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Newport, OR Solar Cost FAQs
What is the average cost of installing solar panels in Newport?
The average cost of solar panels in Newport is about $17,500 for a 5-kW system and $35,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Newport?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption 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 install 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.