Solar Panel Cost Guide in Newman, CA (2023 Update)
- Newman Solar Installation Cost: $5,714
- 25-Year Savings: $19,648
- Payback Period: 5.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Newman
We break down average solar pricing in Newman.
The average cost of solar panels in Newman is 2.73 per watt. The average Newman homeowner needs a 3.0-kilowatt system, which would cost about $5,714 with the federal tax credit, or $8,171 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Newman homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $32,000 over 20 years on utility bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Newman
| Year | Return on Investment |
|---|---|
| 1 years | $-4,699 |
| 3 years | $-2,670 |
| 5 years | $-641 |
| 7 years | $1,388 |
| 9 years | $3,417 |
| 11 years | $5,445 |
| 13 years | $7,474 |
| 15 years | $9,503 |
| 17 years | $11,532 |
| 19 years | $13,561 |
| 21 years | $15,590 |
| 23 years | $17,619 |
| 25 years | $19,648 |
Top Solar Installers in Newman
Although it's possible to install solar panels on your own, it takes extra effort and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. Another upside of using a solar installer is that they can help you optimize your investment by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Newman
Factors that Affect Solar Panel Costs in Newman
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Newman: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Newman. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Newman, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Newman, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $39,004 | 5.9 years |
| 8 kW | $2.78 | $15,594 | $52,311 | 5.7 years |
| 10 kW | $2.73 | $19,110 | $65,771 | 5.6 years |
| 12 kW | $2.68 | $22,473 | $79,384 | 5.5 years |
| 14 kW | $2.62 | $25,684 | $93,149 | 5.4 years |
| 16 kW | $2.57 | $28,741 | $107,068 | 5.3 years |
| 18 kW | $2.51 | $31,646 | $121,139 | 5.2 years |
| 20 kW | $2.46 | $34,398 | $135,364 | 5.1 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies carry different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Newman, CA Solar Cost FAQs
How much does it cost to install solar panels in Newman?
The average cost of solar panels in Newman is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,697.62 per year.
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 typically 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.