Solar Panel Cost Guide in Newmarket, NH (2024 Update)
- Newmarket Solar Installation Cost: $14,236
- 25-Year Savings: $15,184
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Newmarket
Find out what the average cost of a solar system is in Newmarket.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Newmarket, the typical cost of a solar system is 4 per watt.The average solar panel system size in Newmarket is around 4.8 kilowatts, meaning a cost of about $14,236 for a solar installation, or $20,357 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what installation company you go with.With typical savings of about $20,000 on power bills over 20 years, many homeowners in Newmarket find going solar can pay off big.
To get a free estimate from a pre-vetted solar installation company in Newmarket, you can click the button below.
Solar savings over time in Newmarket
| Year | Return on Investment |
|---|---|
| 1 years | $-12,829 |
| 3 years | $-10,016 |
| 5 years | $-7,202 |
| 7 years | $-4,388 |
| 9 years | $-1,575 |
| 11 years | $1,239 |
| 13 years | $4,053 |
| 15 years | $6,866 |
| 17 years | $9,680 |
| 19 years | $12,493 |
| 21 years | $15,307 |
| 23 years | $18,121 |
| 25 years | $20,934 |
Top Solar Installers in Newmarket
When going solar, many homeowners opt to go with a solar installer since DIY solar panel installation can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
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 Newmarket:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Newmarket
Factors that Affect Solar Panel Costs in Newmarket
For many Newmarket 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 Newmarket, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,220. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Newmarket have solar loans, which reduce your upfront costs of installing solar panels.While solar loans make going solar more accessible for Newmarket homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Newmarket, and each can charge varying amounts for labor and equipment.Additionally, some companies in Newmarket know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $4.39 | $18,433 | $12,692 | 14.8 years |
| 8 kW | $4.30 | $24,105 | $17,396 | 14.5 years |
| 10 kW | $4.22 | $29,540 | $22,336 | 14.2 years |
| 12 kW | $4.14 | $34,739 | $27,512 | 14.0 years |
| 14 kW | $4.05 | $39,702 | $32,924 | 13.7 years |
| 16 kW | $3.97 | $44,428 | $38,573 | 13.4 years |
| 18 kW | $3.88 | $48,918 | $44,458 | 13.1 years |
| 20 kW | $3.80 | $53,172 | $50,579 | 12.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: When looking over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 Newmarket, NH Solar Cost FAQs
What is the average cost of installing solar panels in Newmarket?
The average cost of solar panels in Newmarket 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 like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Newmarket?
Leasing solar panels can be an option if you can’t 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 property 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 savings from going solar.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,037.51 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.