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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Updated February 03, 2024
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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 average cost of a solar system is 4 per watt.Since a 4.8-kW system is needed to cover the energy costs of a typical home in Newmarket, the average price of going solar will be about $14,236 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Newmarket homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $20,000 on utility bills over 20 years, many homeowners in Newmarket find installing solar panels can pay off big.
To receive a free estimate from a 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
Many homeowners choose to hire a solar panel installer since installing solar panels on your own can be a lot of work. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Newmarket:
Best National Provider
SunPower
- 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
- 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
The cost of installing a solar system in Newmarket can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
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 uses, the larger your system will likely need to be. You can expect to spend around $4,220 per kilowatt in Newmarket.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at 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 increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Newmarket is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you care about the longevity of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the completion timeline.
Best National Provider
SunPower
- 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
- 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
How much does it cost to install 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 real cost will depend on certain factors 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 appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know 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 house 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.