Solar Panel Cost Guide in West Newbury, MA (Mar 2023)
- West Newbury Solar Installation Cost: $8,746
- 25-Year Savings: $16,596
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in West Newbury
Here's how much it might cost to go solar in West Newbury.
In West Newbury, solar panels cost about 2.94 per watt on average. The average West Newbury homeowner needs a 4.2-kilowatt system, which would cost about $8,746 with the federal tax credit, or $12,507 before the 30% tax credit is applied.
These figures are only averages, and your own solar costs may vary based on your energy needs and what company you want to go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $23,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in West Newbury
| Year | Return on Investment |
|---|---|
| 1 years | $-7,733 |
| 3 years | $-5,705 |
| 5 years | $-3,678 |
| 7 years | $-1,651 |
| 9 years | $377 |
| 11 years | $2,404 |
| 13 years | $4,431 |
| 15 years | $6,459 |
| 17 years | $8,486 |
| 19 years | $10,514 |
| 21 years | $12,541 |
| 23 years | $14,568 |
| 25 years | $16,596 |
Top Solar Installers in West Newbury
Trying to install solar panels by yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Plus, if you'd like to maximize your investment in solar power, opting for a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in West Newbury:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 West Newbury
Factors that Affect Solar Panel Costs in West Newbury
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in West Newbury: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few 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 raise costs. For each additional kilowatt you need, your cost can go up by about $2,940. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like West 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 out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout West Newbury, and each can charge varying amounts for labor and equipment. Additionally, some companies in West Newbury have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about 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
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 West Newbury, MA Solar Cost FAQs
What is the average cost of installing solar panels in West Newbury?
The average cost of solar panels in West Newbury is about $14,700 for a 5-kW system and $29,400 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in West Newbury?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Do solar panels increase the value of your 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 West Newbury is currently $551,049, so you can expect a value of about $22,593 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in West Newbury is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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.