Solar Panel Cost Guide in New Martinsville, WV (2024 Update)
- New Martinsville Solar Installation Cost: $27,007
- 25-Year Savings: $28,056
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in New Martinsville
Let’s have a look at the average cost of solar panels in New Martinsville.
In New Martinsville, solar panels cost about 3 per watt on average.Because a 11.4-kW system is needed to cover the energy usage of a typical home in New Martinsville, the average price of going solar will be about $27,007 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on power bills.
To receive a free quote from a vetted solar installer in New Martinsville, you can click the button below.
Solar savings over time in New Martinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-25,578 |
| 3 years | $-22,719 |
| 5 years | $-19,860 |
| 7 years | $-17,001 |
| 9 years | $-14,142 |
| 11 years | $-11,283 |
| 13 years | $-8,424 |
| 15 years | $-5,565 |
| 17 years | $-2,706 |
| 19 years | $153 |
| 21 years | $3,012 |
| 23 years | $5,871 |
| 25 years | $8,730 |
Top Solar Installers in New Martinsville
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring an installer can make swapping over to solar power much easier. Solar warranties and repairs are usually included in the cost of installation when you hire a solar contractor too, which can save you more money over time.
There are various licensed solar professionals that can help you install your solar panels. 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 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 New Martinsville
Factors that Affect Solar Panel Costs in New Martinsville
For many New Martinsville homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in New Martinsville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably 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 a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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 $3,390.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 opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the New Martinsville average.
Solar Financing Terms
Many homeowners find the average cost of solar in New Martinsville to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.However, the interest on solar loans also increases your total costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in New Martinsville have more knowledge about local solar incentives and can help you take advantage 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 | $3.53 | $14,808 | $11,071 | 14.3 years |
| 8 kW | $3.46 | $19,364 | $15,142 | 14.0 years |
| 10 kW | $3.39 | $23,730 | $19,402 | 13.8 years |
| 12 kW | $3.32 | $27,906 | $23,852 | 13.5 years |
| 14 kW | $3.25 | $31,893 | $28,491 | 13.2 years |
| 16 kW | $3.19 | $35,690 | $33,321 | 12.9 years |
| 18 kW | $3.12 | $39,297 | $38,340 | 12.7 years |
| 20 kW | $3.05 | $42,714 | $43,549 | 12.4 years |
How to Save on Solar Panels
There are a large number of companies available in New Martinsville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 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 New Martinsville, WV Solar Cost FAQs
What is the average cost of installing solar panels in New Martinsville?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $16,950 for a 5-kW system and $33,900 for a 10-kW system after the ITC is applied. It will cost more if you want other 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 it better to lease or buy solar panels in New Martinsville?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $862.63 per year.
How long do solar panels last in New Martinsville?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.