Solar Panel Cost Guide in Newport, VT (2024 Update)
- Newport Solar Installation Cost: $15,511
- 25-Year Savings: $25,340
- Payback Period: 10.5 Years
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Average Cost of Solar Panels in Newport
Find out how much it might cost to go solar in Newport.
The national average cost of solar panels is $2.66 per watt, but in Newport it’s 4 per watt.The average Newport homeowner needs a 5.8-kilowatt system, which would cost about $15,511 with the federal tax credit, or $22,181 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Even with the large upfront cost, the average Newport homeowner can save around $24,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Newport
| Year | Return on Investment |
|---|---|
| 1 years | $-14,179 |
| 3 years | $-11,516 |
| 5 years | $-8,853 |
| 7 years | $-6,190 |
| 9 years | $-3,527 |
| 11 years | $-863 |
| 13 years | $1,800 |
| 15 years | $4,463 |
| 17 years | $7,126 |
| 19 years | $9,789 |
| 21 years | $12,452 |
| 23 years | $15,115 |
| 25 years | $17,778 |
Top Solar Installers in Newport
Many homeowners opt for a solar installer since installing solar panels by yourself can be time-consuming. Also, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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
For many Newport homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Newport, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,850.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can impact the cost. Newport’s solar companies all have different labor costs and add varying upcharges to equipment. 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. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $4.00 | $16,817 | $21,654 | 10.9 years |
| 8 kW | $3.93 | $21,991 | $29,303 | 10.7 years |
| 10 kW | $3.85 | $26,950 | $37,168 | 10.5 years |
| 12 kW | $3.77 | $31,693 | $45,249 | 10.3 years |
| 14 kW | $3.70 | $36,221 | $53,545 | 10.1 years |
| 16 kW | $3.62 | $40,533 | $62,057 | 9.9 years |
| 18 kW | $3.54 | $44,629 | $70,784 | 9.7 years |
| 20 kW | $3.47 | $48,510 | $79,727 | 9.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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, VT Solar Cost FAQs
What is the average cost of installing solar panels in Newport?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $19,250 for a 5-kW system and $38,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Newport?
You can’t get solar panels for free in Newport. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my home value?
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."
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 get between 20 and 35 panels to account for 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.