Solar Panel Cost Guide in New London, NH (2024 Update)

  • New London Solar Installation Cost: $14,710
  • 25-Year Savings: $16,057
  • Payback Period: 14.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New London

Let’s have a look at the average cost of solar panels in New London.

In New London, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in New London, most homeowners require a 5.0-kilowatt system. Using the figure above, a solar installation costs around $14,710, or $21,035 before the federal solar tax credit of 0 is applied.

Keep in mind that the figures above are only estimates based on the average energy use of New London homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing solar panels is a sound investment. The average homeowner in New London can save around $20,000 on their power bills over 20 years.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in New London

YearReturn on Investment
1 years$-13,303
3 years$-10,489
5 years$-7,676
7 years$-4,862
9 years$-2,048
11 years$765
13 years$3,579
15 years$6,392
17 years$9,206
19 years$12,020
21 years$14,833
23 years$17,647
25 years$20,461

Top Solar Installers in New London

Many homeowners decide to hire a solar panel installer since installing solar panels yourself can be challenging. Plus, if you’d like to maximize your investment in solar power, using a solar installer 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.

Working with a vetted solar installer can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in New London: 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 size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,220. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the New London average.

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 going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.

Solar Panel Installation Company

The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in New London, and each can charge varying amounts for labor and equipment.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 add-on services like electric vehicle charger installation, they might be cheaper overall.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$4.39$18,433$13,13514.6 years
8 kW$4.30$24,105$17,98714.3 years
10 kW$4.22$29,540$23,07414.0 years
12 kW$4.14$34,739$28,39813.8 years
14 kW$4.05$39,702$33,95813.5 years
16 kW$3.97$44,428$39,75413.2 years
18 kW$3.88$48,918$45,78712.9 years
20 kW$3.80$53,172$52,05612.6 years

How to Save on Solar Panels

There are many companies available 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:

  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
  • Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0
  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • 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?

The average cost of solar panels in New London is about $21,100 for a 5-kW system and $42,200 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in New London?

Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Can solar panels significantly reduce my energy bills?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,052.28 per year.

How long do solar panels last in New London?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.