Solar Panel Cost Guide in Newton, MA (2023 Update)
- Newton Solar Installation Cost: $9,179
- 25-Year Savings: $16,988
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Newton
Let's have a look at the average cost of solar in Newton.
In Newton, solar panels cost about 2.94 per watt on average. The average Newton homeowner needs a 4.5-kilowatt system, which would cost about $9,179 with the federal tax credit, or $13,126 before the 30% tax credit is applied.
The actual price you pay can be above or below the average in Newton depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. But, once you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on utility bills.
To receive a free estimate from a vetted solar company in Newton, you can click the button below.
Solar savings over time in Newton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,132 |
| 3 years | $-6,039 |
| 5 years | $-3,945 |
| 7 years | $-1,852 |
| 9 years | $241 |
| 11 years | $2,334 |
| 13 years | $4,428 |
| 15 years | $6,521 |
| 17 years | $8,614 |
| 19 years | $10,708 |
| 21 years | $12,801 |
| 23 years | $14,894 |
| 25 years | $16,988 |
Top Solar Installers in Newton
Although you can install solar panels on your own, it involves extra labor and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be invaluable as well, particularly if you don't quite know what type of solar equipment you need.
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 Newton
Factors that Affect Solar Panel Costs in Newton
Even though the average cost of a solar system in Newton is $9,179, your actual cost may differ. 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 a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require 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 better efficiency. In a city like Newton, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
Many homeowners find the average cost of solar in Newton to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. Even though solar loans make switching to solar energy more accessible for Newton homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.06 | $12,842 | $22,364 | 9.1 years |
| 8 kW | $3.00 | $16,793 | $30,147 | 8.9 years |
| 10 kW | $2.94 | $20,580 | $38,096 | 8.8 years |
| 12 kW | $2.88 | $24,202 | $46,209 | 8.6 years |
| 14 kW | $2.82 | $27,660 | $54,487 | 8.4 years |
| 16 kW | $2.76 | $30,952 | $62,929 | 8.2 years |
| 18 kW | $2.70 | $34,080 | $71,536 | 8.1 years |
| 20 kW | $2.65 | $37,044 | $80,308 | 7.9 years |
How to Save on Solar Panels
There are many companies to choose from in Newton, 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:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Newton, MA Solar Cost FAQs
What is the average cost of installing solar panels in Newton?
The average cost of solar panels in Newton 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 stuff like 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 think about when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newton is currently $824,061, which means you could be looking at a value of about $33,787 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Newton is a worthwhile investment.
How long do solar panels last in Newton?
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.