Solar Panel Cost Guide in Newark, DE (2024 Update)
- Newark Solar Installation Cost: $14,456
- 25-Year Savings: $17,377
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Newark
Let’s have a look at the average cost of solar panels in Newark.
Although the national average of solar panels is $2.66 per watt, solar panels in Newark generally cost around 3.Since a 6.7-kW system is needed to cover the energy costs of a typical home in Newark, the average price of going solar will be about $14,456 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find going solar is a fruitful investment. The average homeowner in Newark can save about $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Newark for a quote for your home.
Solar savings over time in Newark
| Year | Return on Investment |
|---|---|
| 1 years | $-12,907 |
| 3 years | $-9,809 |
| 5 years | $-6,710 |
| 7 years | $-3,612 |
| 9 years | $-514 |
| 11 years | $2,585 |
| 13 years | $5,683 |
| 15 years | $8,782 |
| 17 years | $11,880 |
| 19 years | $14,978 |
| 21 years | $18,077 |
| 23 years | $21,175 |
| 25 years | $24,273 |
Top Solar Installers in Newark
When making the switch to solar, many homeowners choose to use a solar company since putting up solar panels yourself can be a difficult project. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers nearby:
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 Newark
Factors that Affect Solar Panel Costs in Newark
Though the average cost of a solar system in Newark is $14,456, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,090.The brand of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Newark homeowners choose to finance their solar panel systems to make going solar more affordable.Though solar loans make going solar more accessible for Newark homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $12,939 | 12.8 years |
| 8 kW | $3.15 | $17,650 | $17,598 | 12.5 years |
| 10 kW | $3.09 | $21,630 | $22,430 | 12.3 years |
| 12 kW | $3.03 | $25,437 | $27,436 | 12.0 years |
| 14 kW | $2.97 | $29,071 | $32,614 | 11.8 years |
| 16 kW | $2.90 | $32,532 | $37,965 | 11.5 years |
| 18 kW | $2.84 | $35,819 | $43,490 | 11.3 years |
| 20 kW | $2.78 | $38,934 | $49,187 | 11.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which installer you should opt for, since different companies provide different panels.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Newark, DE Solar Cost FAQs
What is the average cost of installing solar panels in Newark?
The average cost of solar panels in Newark is about $15,450 for a 5-kW system and $30,900 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Newark, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.