Solar Panel Cost Guide in New Castle, DE (2023 Update)
- New Castle Solar Installation Cost: $12,064
- 25-Year Savings: $16,355
- Payback Period: 10.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New Castle
Let's have a look at the average cost of solar panels in New Castle.
While the national average of solar panels is $2.66 per watt, solar panels in New Castle generally cost around 2.58. Because a 6.7-kW system is needed to cover the energy needs of a typical home in New Castle, the average price of going solar will be about $12,064 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy use, the type of equipment you want, your solar contractor and more. Many homeowners find going solar is a solid investment. The average homeowner in New Castle can save about $16,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in New Castle
| Year | Return on Investment |
|---|---|
| 1 years | $-10,927 |
| 3 years | $-8,654 |
| 5 years | $-6,380 |
| 7 years | $-4,107 |
| 9 years | $-1,833 |
| 11 years | $440 |
| 13 years | $2,714 |
| 15 years | $4,987 |
| 17 years | $7,261 |
| 19 years | $9,534 |
| 21 years | $11,808 |
| 23 years | $14,081 |
| 25 years | $16,355 |
Top Solar Installers in New Castle
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a challenging project. In addition, if you'd like to maximize your investment in solar energy, going with a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Even though the average cost of a solar system in New Castle is $12,064, your actual cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,580. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like New Castle, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in New Castle, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's a good idea 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 play a part in determining 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 make good use 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 | $2.68 | $11,269 | $14,243 | 11.0 years |
| 8 kW | $2.63 | $14,737 | $19,280 | 10.8 years |
| 10 kW | $2.58 | $18,060 | $24,461 | 10.6 years |
| 12 kW | $2.53 | $21,239 | $29,787 | 10.4 years |
| 14 kW | $2.48 | $24,273 | $35,257 | 10.2 years |
| 16 kW | $2.43 | $27,162 | $40,872 | 10.0 years |
| 18 kW | $2.37 | $29,907 | $46,631 | 9.8 years |
| 20 kW | $2.32 | $32,508 | $52,535 | 9.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in New Castle, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 $12,900 for a 5-kW system and $25,800 for a 10-kW system before the ITC, but the actual 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 use.
Are solar panels free in New Castle?
Solar panels aren't free in New Castle, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on electricity 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 $850.43 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.