Solar Panel Cost Guide in Newbury, MA (2024 Update)
- Newbury Solar Installation Cost: $12,074
- 25-Year Savings: $16,599
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Newbury
We go over average solar pricing in Newbury.
The national average cost of solar panels is $2.66 per watt, but in Newbury it’s 4 per watt.The average Newbury homeowner needs a 4.2-kilowatt system, which would cost about $12,074 with the federal tax credit, or $17,266 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Newbury homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Newbury see about $23,000 in savings on electricity bills over 20 years.
To get a free estimate from a pre-vetted solar company in Newbury, you can click the button below.
Solar savings over time in Newbury
| Year | Return on Investment |
|---|---|
| 1 years | $-10,351 |
| 3 years | $-6,904 |
| 5 years | $-3,457 |
| 7 years | $-10 |
| 9 years | $3,437 |
| 11 years | $6,884 |
| 13 years | $10,331 |
| 15 years | $13,777 |
| 17 years | $17,224 |
| 19 years | $20,671 |
| 21 years | $24,118 |
| 23 years | $27,565 |
| 25 years | $31,012 |
Top Solar Installers in Newbury
Although it's possible to install solar panels yourself, it takes extra energy and know-how. Because of that, almost all homeowners choose a solar panel installer. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $12,074, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Newbury, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Newbury, and each can charge different amounts for labor and equipment.Some companies 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 with an above-average cost. It’s best to do some research and choose a company that provides the products, warranties and services you want and also fits 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 | $4.22 | $17,734 | $18,056 | 12.4 years |
| 8 kW | $4.14 | $23,191 | $24,529 | 12.1 years |
| 10 kW | $4.06 | $28,420 | $31,230 | 11.9 years |
| 12 kW | $3.98 | $33,422 | $38,158 | 11.7 years |
| 14 kW | $3.90 | $38,196 | $45,313 | 11.4 years |
| 16 kW | $3.82 | $42,744 | $52,696 | 11.2 years |
| 18 kW | $3.74 | $47,064 | $60,306 | 11.0 years |
| 20 kW | $3.65 | $51,156 | $68,144 | 10.7 years |
How to Save on Solar Panels
There are many companies to choose from in Newbury, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Newbury, MA Solar Cost FAQs
What is the average cost of installing solar panels in Newbury?
The average cost of solar panels in Newbury is about $20,300 for a 5-kW system and $40,600 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 use.
Should I lease or buy solar panels in Newbury?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase your home value considerably 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% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 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.