Solar Panel Cost Guide in Newbury, MA (2023 Update)
- Newbury Solar Installation Cost: $8,743
- 25-Year Savings: $16,599
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Newbury
Let's take a look at the average cost of solar panels in Newbury.
While the national average of solar panels is $2.66 per watt, solar panels in Newbury typically cost about 2.94. Using this figure, a typical 4.2-kW system would cost about $8,746 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy usage and what solar installer you go with. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $23,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a customized quote.
Solar savings over time in Newbury
| Year | Return on Investment |
|---|---|
| 1 years | $-8,659 |
| 3 years | $-8,490 |
| 5 years | $-8,321 |
| 7 years | $-8,152 |
| 9 years | $-7,983 |
| 11 years | $-7,814 |
| 13 years | $-7,645 |
| 15 years | $-7,476 |
| 17 years | $-7,307 |
| 19 years | $-7,138 |
| 21 years | $-6,969 |
| 23 years | $-6,801 |
| 25 years | $-6,632 |
Top Solar Installers in Newbury
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make switching to solar power much easier. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what brand of solar equipment would be right for your home.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Newbury
Factors that Affect Solar Panel Costs in Newbury
While the average cost of a solar system in Newbury is $8,746, 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 residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better 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 $2,940. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Newbury, 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 utility bills over many years, but they can also be a significant investment. That's why many Newbury homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies in Newbury, and each can charge different amounts for labor and equipment. Companies that only sell high-efficiency and high-priced 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 decide on the company that offers the products, warranties and services you want 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 | $3.06 | $12,842 | $22,948 | 9.0 years |
| 8 kW | $3.00 | $16,793 | $30,927 | 8.8 years |
| 10 kW | $2.94 | $20,580 | $39,070 | 8.6 years |
| 12 kW | $2.88 | $24,202 | $47,378 | 8.5 years |
| 14 kW | $2.82 | $27,660 | $55,850 | 8.3 years |
| 16 kW | $2.76 | $30,952 | $64,488 | 8.1 years |
| 18 kW | $2.70 | $34,080 | $73,289 | 7.9 years |
| 20 kW | $2.65 | $37,044 | $82,256 | 7.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The brand of solar panel you want to install plays a part in which installer you should go with, since different companies provide different panels.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: When making the switch to solar, it's crucial to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
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 Newbury, MA Solar Cost FAQs
How much does it cost to install solar panels in Newbury?
The average cost of solar panels in Newbury is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Newbury?
Solar panels aren't free in Newbury, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,193.00 per year.
How long do solar panels last in Newbury?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.