Solar Panel Cost Guide in Newton, NJ (2024 Update)

  • Newton Solar Installation Cost: $11,874
  • 25-Year Savings: $8,149
  • Payback Period: 17.0 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

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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 Newton

We go over average solar pricing in Newton.

While the national average of solar panels is $2.66 per watt, solar panels in Newton generally cost around 4.To cover the typical energy usage of the average home in Newton, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs around $11,874, or $16,980 before the federal solar tax credit of 0 is applied.

Bear in mind that the figures above are only estimates based on the average Newton homeowner. The price 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 a solar system is a solid investment. The average homeowner in Newton can save about $14,000 on their electricity bills over 20 years.

Click the button below to get connected to a vetted solar company in your area for a customized estimate.

Solar savings over time in Newton

Year Return on Investment
1 years $-10,815
3 years $-8,696
5 years $-6,578
7 years $-4,460
9 years $-2,341
11 years $-223
13 years $1,896
15 years $4,014
17 years $6,132
19 years $8,251
21 years $10,369
23 years $12,488
25 years $14,606

Top Solar Installers in Newton

Many homeowners choose to hire a solar installation company since figuring out how to install solar panels on your own can be hard. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money after your initial investment.

If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers nearby:

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

See all of the solar companies in Newton

Factors that Affect Solar Panel Costs in Newton

There are many criteria that can influence 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

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind 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 are often more expensive 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Many homeowners find the average cost of solar in Newton to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.Although solar loans make adopting solar energy more accessible for Newton homeowners, they can also raise the total you pay for your system, depending on your interest rate. 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 company you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating in Newton, and each can charge different amounts for labor and equipment.Additionally, some companies in Newton know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 $3.67 $15,419 $6,390 17.7 years
8 kW $3.60 $20,163 $8,915 17.3 years
10 kW $3.53 $24,710 $11,638 17.0 years
12 kW $3.46 $29,059 $14,559 16.7 years
14 kW $3.39 $33,210 $17,677 16.3 years
16 kW $3.32 $37,164 $20,993 16.0 years
18 kW $3.25 $40,920 $24,507 15.6 years
20 kW $3.18 $44,478 $28,218 15.3 years

How to Save on Solar Panels

There are many 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:

  • Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
  • Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
  • Warranty: Warranties that provide coverage for replacement parts and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.

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 Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

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

EcoWatch's Newton, NJ Solar Cost FAQs

How much does it cost to install solar panels in Newton?

This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact how much my home is worth?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.

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