Solar Panel Cost Guide in Newton, NC (2023 Update)
- Newton Solar Installation Cost: $12,197
- 25-Year Savings: $20,783
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Newton
Find out how much it might cost to switch to solar power in Newton.
In Newton, solar panels cost about 2.54 per watt on average. Because a 6.9-kW system is needed to cover the energy needs of a typical home in Newton, the average price of going solar will be about $12,197 after claiming the federal solar tax credit of 30%.
These figures are just averages, and your own solar costs will look different based on the amount of energy your home requires and what company you want to go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is typically good, with a net average savings of about $18,000 over 20 years on energy bills.
To get a free quote from a pre-vetted solar installation company in Newton, you can click the button below.
Solar savings over time in Newton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,878 |
| 3 years | $-8,240 |
| 5 years | $-5,601 |
| 7 years | $-2,963 |
| 9 years | $-324 |
| 11 years | $2,314 |
| 13 years | $4,952 |
| 15 years | $7,591 |
| 17 years | $10,229 |
| 19 years | $12,868 |
| 21 years | $15,506 |
| 23 years | $18,144 |
| 25 years | $20,783 |
Top Solar Installers in Newton
Trying to put up solar panels by yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Newton
Factors that Affect Solar Panel Costs in Newton
There are many factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,540. 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 abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Newton homeowners decide to finance their solar panel systems to offset upfront costs. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Newton, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally 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 add-on services like electric car 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 | $2.64 | $11,095 | $17,764 | 9.6 years |
| 8 kW | $2.59 | $14,508 | $23,970 | 9.4 years |
| 10 kW | $2.54 | $17,780 | $30,318 | 9.2 years |
| 12 kW | $2.49 | $20,909 | $36,808 | 9.1 years |
| 14 kW | $2.44 | $23,896 | $43,441 | 8.9 years |
| 16 kW | $2.39 | $26,741 | $50,216 | 8.7 years |
| 18 kW | $2.34 | $29,444 | $57,133 | 8.5 years |
| 20 kW | $2.29 | $32,004 | $64,192 | 8.3 years |
How to Save on Solar Panels
The company that does your 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:
- Solar Panel Brands: The model of solar panel you need to get plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. Two 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 satisfied reviews from past customers.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Newton, NC Solar Cost FAQs
How much does it cost to install solar panels in Newton?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Newton?
A solar panel system isn't free in Newton, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.