Solar Panel Cost Guide in Newnan, GA (2023 Update)
- Newnan Solar Installation Cost: $12,033
- 25-Year Savings: $20,999
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Newnan
See how much it might cost to go solar in Newnan.
The average cost of solar panels in Newnan is 2.55 per watt. Using this figure, a typical 6.7-kW system would cost about $12,031 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely vary based on your energy needs and what company you go with. Despite the significant upfront cost, the average Newnan homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a vetted solar company in your area for a customized estimate.
Solar savings over time in Newnan
| Year | Return on Investment |
|---|---|
| 1 years | $-10,472 |
| 3 years | $-7,349 |
| 5 years | $-4,227 |
| 7 years | $-1,105 |
| 9 years | $2,017 |
| 11 years | $5,139 |
| 13 years | $8,261 |
| 15 years | $11,383 |
| 17 years | $14,505 |
| 19 years | $17,627 |
| 21 years | $20,749 |
| 23 years | $23,871 |
| 25 years | $26,993 |
Top Solar Installers in Newnan
Although you can install solar panels yourself, it involves extra time and expertise. That's why most homeowners choose to hire a solar panel installer. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what brand of solar equipment you need.
Working with a licensed solar installer 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 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 Newnan
Factors that Affect Solar Panel Costs in Newnan
For many Newnan homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Newnan, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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, such as solar batteries, can bring your total well above the Newnan average.
Solar Financing Terms
Most solar installers in Newnan offer solar loans, which reduce the initial cost of installing a solar system. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Newnan, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $18,262 | 9.5 years |
| 8 kW | $2.60 | $14,566 | $24,635 | 9.3 years |
| 10 kW | $2.55 | $17,850 | $31,151 | 9.1 years |
| 12 kW | $2.50 | $20,992 | $37,810 | 8.9 years |
| 14 kW | $2.45 | $23,990 | $44,611 | 8.7 years |
| 16 kW | $2.40 | $26,846 | $51,556 | 8.6 years |
| 18 kW | $2.35 | $29,560 | $58,643 | 8.4 years |
| 20 kW | $2.29 | $32,130 | $65,873 | 8.2 years |
How to Save on Solar Panels
The solar panel company you opt for will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which company you should go with, since different companies have access to different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Newnan, GA Solar Cost FAQs
How much does it cost to install solar panels in Newnan?
The average cost of solar panels in Newnan is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Newnan?
Leasing solar panels can be an option if you are unable to 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 property 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 financial benefits from going solar.
How will solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newnan is currently $208,177, so you can look forward to a value of about $8,535 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Newnan is a rewarding investment.
How long do solar panels last in Newnan?
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 amount 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.