Solar Panel Cost Guide in New Castle, CO (2025 Update)
- New Castle Solar Installation Cost: $14,386
- 25-Year Savings: $15,444
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in New Castle
We go over average solar pricing in New Castle.
The average cost of solar panels in New Castle is 4 per watt.To cover the typical energy usage of the average home in New Castle, most homeowners require a 5.2-kilowatt system. Using the figure above, a solar installation costs about $14,386, or $20,572 before the federal solar tax credit of 0 is applied.
The true price you pay can be above or below the average in New Castle based on a few factors, such as the model of solar panels you choose and the solar contractor you hire.For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar installer in New Castle for a personalized quote.
Solar savings over time in New Castle
| Year | Return on Investment |
|---|---|
| 1 years | $-13,418 |
| 3 years | $-11,481 |
| 5 years | $-9,545 |
| 7 years | $-7,609 |
| 9 years | $-5,673 |
| 11 years | $-3,737 |
| 13 years | $-1,800 |
| 15 years | $136 |
| 17 years | $2,072 |
| 19 years | $4,008 |
| 21 years | $5,944 |
| 23 years | $7,881 |
| 25 years | $9,817 |
Top Solar Installers in New Castle
Many homeowners decide to hire a solar panel installer since trying to put up solar panels yourself can be a labor-intensive endeavor. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in New Castle
Factors that Affect Solar Panel Costs in New Castle
For many New Castle homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in New Castle, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.There are many different solar panel brands and the one you choose also changes the cost. Generally, 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many New Castle homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect how much it costs. New Castle’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in New Castle are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $4.14 | $17,385 | $11,858 | 14.9 years |
| 8 kW | $4.06 | $22,734 | $16,257 | 14.6 years |
| 10 kW | $3.98 | $27,860 | $20,878 | 14.3 years |
| 12 kW | $3.90 | $32,763 | $25,723 | 14.0 years |
| 14 kW | $3.82 | $37,444 | $30,790 | 13.7 years |
| 16 kW | $3.74 | $41,901 | $36,080 | 13.4 years |
| 18 kW | $3.66 | $46,136 | $41,593 | 13.1 years |
| 20 kW | $3.58 | $50,148 | $47,329 | 12.9 years |
How to Save on Solar Panels
Since the model 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 select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's New Castle, CO Solar Cost FAQs
How much does it cost to install solar panels in New Castle?
The average cost of solar panels in New Castle is about $19,900 for a 5-kW system and $39,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Solar panels can increase your property’s value 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% with a solar installation."
How long do solar panels last in New Castle?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.