Solar Panel Cost Guide in Newtown, CT (2023 Update)
- Newtown Solar Installation Cost: $8,781
- 25-Year Savings: $20,466
- Payback Period: 7.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Newtown
We break down average solar pricing in Newtown.
The average cost of a solar system in Newtown is 2.8 per watt. Using this figure, a typical 4.5-kW system would cost about $8,781 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Newtown homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the significant initial cost, the average Newtown homeowner can save around $25,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar installer in Newtown for a personalized estimate.
Solar savings over time in Newtown
| Year | Return on Investment |
|---|---|
| 1 years | $-7,611 |
| 3 years | $-5,271 |
| 5 years | $-2,932 |
| 7 years | $-592 |
| 9 years | $1,748 |
| 11 years | $4,088 |
| 13 years | $6,427 |
| 15 years | $8,767 |
| 17 years | $11,107 |
| 19 years | $13,447 |
| 21 years | $15,786 |
| 23 years | $18,126 |
| 25 years | $20,466 |
Top Solar Installers in Newtown
Installing solar panels yourself can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Newtown
Factors that Affect Solar Panel Costs in Newtown
Even though the average cost of a solar system in Newtown is $8,781, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,800. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Newtown, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Newtown homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your overall costs, so it's crucial to include that in your estimate as well. You can always lower 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 pick will impact your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Newtown know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $2.91 | $12,230 | $26,975 | 7.8 years |
| 8 kW | $2.86 | $15,994 | $36,280 | 7.6 years |
| 10 kW | $2.80 | $19,600 | $45,742 | 7.5 years |
| 12 kW | $2.74 | $23,050 | $55,361 | 7.3 years |
| 14 kW | $2.69 | $26,342 | $65,137 | 7.2 years |
| 16 kW | $2.63 | $29,478 | $75,070 | 7.0 years |
| 18 kW | $2.58 | $32,458 | $85,159 | 6.9 years |
| 20 kW | $2.52 | $35,280 | $95,405 | 6.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you're worried about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Newtown, CT Solar Cost FAQs
What is the average cost of installing solar panels in Newtown?
The average cost of solar panels in Newtown is about $14,000 for a 5-kW system and $28,000 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Newtown?
Leasing solar panels can be an appealing choice, because it usually 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 maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,306.85 per year.
How often do you have to replace solar panels?
Although 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 keep using 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.