Solar Panel Cost Guide in New Castle, DE (2024 Update)
- New Castle Solar Installation Cost: $14,456
- 25-Year Savings: $16,349
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in New Castle
Find out what the average cost of a solar system is in New Castle.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Castle, the average cost of solar panels is 3 per watt.Because a 6.7-kW system is needed to cover the energy consumption of a typical home in New Castle, the average price of going solar will be about $14,456 after claiming the federal solar tax credit of 0.
The true cost of your system can be above or below the average in New Castle depending on several factors, such as the type of solar panels you choose and the solar installer you hire.Despite the large initial cost, the average New Castle homeowner can save about $16,000 on their electricity bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Castle
| Year | Return on Investment |
|---|---|
| 1 years | $-13,055 |
| 3 years | $-10,253 |
| 5 years | $-7,451 |
| 7 years | $-4,649 |
| 9 years | $-1,847 |
| 11 years | $956 |
| 13 years | $3,758 |
| 15 years | $6,560 |
| 17 years | $9,362 |
| 19 years | $12,164 |
| 21 years | $14,966 |
| 23 years | $17,768 |
| 25 years | $20,570 |
Top Solar Installers in New Castle
When switching to solar energy, many homeowners opt to use a solar company since DIY solar panel installation can be a challenging project. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in New Castle:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Castle
Factors that Affect Solar Panel Costs in New Castle
For many New Castle homeowners, the decision to adopt solar energy rests 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 greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $3,090 per kilowatt in New Castle.The 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. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the New Castle average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many New Castle homeowners choose to finance their solar panel systems to make going solar more affordable.Even though solar loans make going solar more accessible for New Castle homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in New Castle, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.21 | $13,497 | $12,016 | 13.2 years |
| 8 kW | $3.15 | $17,650 | $16,367 | 13.0 years |
| 10 kW | $3.09 | $21,630 | $20,891 | 12.7 years |
| 12 kW | $3.03 | $25,437 | $25,589 | 12.5 years |
| 14 kW | $2.97 | $29,071 | $30,459 | 12.2 years |
| 16 kW | $2.90 | $32,532 | $35,503 | 12.0 years |
| 18 kW | $2.84 | $35,819 | $40,719 | 11.7 years |
| 20 kW | $2.78 | $38,934 | $46,109 | 11.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: If you’re concerned about the longevity of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 Castle, DE Solar Cost FAQs
What is the average cost of installing solar panels in New Castle?
The average cost of solar panels in New Castle is about $15,450 for a 5-kW system and $30,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind 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 New Castle?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will having solar panels impact my home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t opt for 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?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.