Solar Panel Cost Guide in New London, WI (2024 Update)

  • New London Solar Installation Cost: $19,736
  • 25-Year Savings: $23,310
  • Payback Period: 13.5 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 New London

Let’s take a look at the average cost of solar in New London.

Although the national average of solar panels is $2.66 per watt, solar panels in New London generally cost around 4.To account for the typical energy usage of the average home in New London, most homeowners require a 7.3-kilowatt system. Using the figure above, a solar installation costs about $19,736, or $28,222 before the federal solar tax credit of 0 is applied.

How much you pay can be higher or lower than the average in New London based on several factors, such as the brand of solar panels you choose and the solar installer you hire.Despite the significant initial cost, the average New London homeowner can save around $19,000 on their energy bills over 20 years, which is one of the perks of solar.

Click the button below to get connected to a reputable solar company in New London for a customized estimate.

Solar savings over time in New London

Year Return on Investment
1 years $-18,441
3 years $-15,850
5 years $-13,259
7 years $-10,668
9 years $-8,077
11 years $-5,486
13 years $-2,895
15 years $-304
17 years $2,287
19 years $4,878
21 years $7,469
23 years $10,060
25 years $12,651

Top Solar Installers in New London

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make converting to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.

If you're looking for a solar company in New London, the EcoWatch team has organized 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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • 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 New London

Factors that Affect Solar Panel Costs in New London

Although the average cost of a solar system in New London is $19,736, your actual cost may be above or below the average. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,880. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the New London average.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many New London homeowners choose 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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

The solar installer you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in New London, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 $4.04 $16,948 $13,219 14.0 years
8 kW $3.96 $22,163 $18,060 13.8 years
10 kW $3.88 $27,160 $23,118 13.5 years
12 kW $3.80 $31,940 $28,394 13.2 years
14 kW $3.72 $36,503 $33,886 13.0 years
16 kW $3.65 $40,849 $39,597 12.7 years
18 kW $3.57 $44,977 $45,524 12.4 years
20 kW $3.49 $48,888 $51,668 12.2 years

How to Save on Solar Panels

There are numerous companies to choose from in New London, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
  • Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
  • Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
  • Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one sign of a quality company.

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's New London, WI Solar Cost FAQs

What is the average cost of installing solar panels in New London?

This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in New London?

A solar panel system isn’t free in New London, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How much can I save on energy bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout New London, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

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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