Solar Panel Cost Guide in Newmarket, NH (2023 Update)
- Newmarket Solar Installation Cost: $9,818
- 25-Year Savings: $15,182
- Payback Period: 9.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Newmarket
Here's how much it might cost to switch to solar power in Newmarket.
Although the national average of solar panels is $2.66 per watt, solar panels in Newmarket generally cost around 2.91. The average solar panel system size in Newmarket is around 4.8 kilowatts, meaning a cost of about $9,818 for a solar installation, or $14,040 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Newmarket see about $20,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar company in Newmarket for a quote for your home.
Solar savings over time in Newmarket
| Year | Return on Investment |
|---|---|
| 1 years | $-8,818 |
| 3 years | $-6,818 |
| 5 years | $-4,818 |
| 7 years | $-2,818 |
| 9 years | $-818 |
| 11 years | $1,182 |
| 13 years | $3,182 |
| 15 years | $5,182 |
| 17 years | $7,182 |
| 19 years | $9,182 |
| 21 years | $11,182 |
| 23 years | $13,182 |
| 25 years | $15,182 |
Top Solar Installers in Newmarket
When switching to solar energy, many homeowners choose to use a solar installation company since overseeing your solar installation yourself can be a difficult project. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for you.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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
There are many criteria 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 installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,910 per kilowatt in Newmarket. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Newmarket, 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Newmarket homeowners choose to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of loans, including the total 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Newmarket, and each can charge different amounts for labor and equipment. You may come across 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 promotions to compete with those major players.
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 | $18,415 | 10.2 years |
| 8 kW | $2.97 | $16,622 | $24,879 | 10.0 years |
| 10 kW | $2.91 | $20,370 | $31,506 | 9.8 years |
| 12 kW | $2.85 | $23,955 | $38,296 | 9.6 years |
| 14 kW | $2.79 | $27,377 | $45,249 | 9.4 years |
| 16 kW | $2.74 | $30,636 | $52,365 | 9.2 years |
| 18 kW | $2.68 | $33,733 | $59,644 | 9.0 years |
| 20 kW | $2.62 | $36,666 | $67,085 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: When making the switch to solar power, it's crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, completion timeline incentives and warranties.
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
How much does it cost to install solar panels in Newmarket?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Newmarket?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.