Solar Panel Cost Guide in New London, NH (2023 Update)
- New London Solar Installation Cost: $10,144
- 25-Year Savings: $16,056
- Payback Period: 9.7 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 New London
Let's take a look at the average cost of solar in New London.
While the national average of solar panels is $2.66 per watt, solar panels in New London generally cost about 2.91. Because a 5.0-kW system is needed to cover the energy usage of a typical home in New London, the average price of going solar will be about $10,144 after claiming the federal solar tax credit of 30%.
The true price you pay can be higher or lower than the average in New London depending on several factors, such as the model of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar panels is worth paying. On average New London homeowners see about $20,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in New London for a quote for your home.
Solar savings over time in New London
| Year | Return on Investment |
|---|---|
| 1 years | $-9,096 |
| 3 years | $-7,000 |
| 5 years | $-4,904 |
| 7 years | $-2,808 |
| 9 years | $-712 |
| 11 years | $1,384 |
| 13 years | $3,480 |
| 15 years | $5,576 |
| 17 years | $7,672 |
| 19 years | $9,768 |
| 21 years | $11,864 |
| 23 years | $13,960 |
| 25 years | $16,056 |
Top Solar Installers in New London
Although you can install solar panels on your own, it requires extra energy and knowledge. For that reason, almost all homeowners choose to hire a solar panel installer. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 New London
Factors that Affect Solar Panel Costs in New London
For many New London homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in New London, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have 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 $2,910. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many New London homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence how much you pay. New London's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.03 | $12,711 | $18,858 | 10.1 years |
| 8 kW | $2.97 | $16,622 | $25,469 | 9.9 years |
| 10 kW | $2.91 | $20,370 | $32,244 | 9.7 years |
| 12 kW | $2.85 | $23,955 | $39,182 | 9.5 years |
| 14 kW | $2.79 | $27,377 | $46,282 | 9.3 years |
| 16 kW | $2.74 | $30,636 | $53,546 | 9.1 years |
| 18 kW | $2.68 | $33,733 | $60,972 | 8.9 years |
| 20 kW | $2.62 | $36,666 | $68,562 | 8.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in New London, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 New London, NH Solar Cost FAQs
How much does it cost to install solar panels in New London?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in New London?
Solar panels aren't free in New London, 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 help lower the cost.
Is it worth going solar in New London?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in New London?
Although 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 choose to replace them once you've had them for that long or you can keep using 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.