Solar Panel Cost Guide in Newton, NJ (Mar 2023)
- Newton Solar Installation Cost: $9,327
- 25-Year Savings: $8,140
- Payback Period: 13.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Newton
Here's how much it might cost to install solar panels in Newton.
The average cost of a solar system in Newton is 2.77 per watt. The average Newton homeowner needs a 4.8-kilowatt system, which would cost about $9,327 with the federal tax credit, or $13,338 before the 30% 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 installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what company you go with. With average savings of about $14,000 on energy bills over 20 years, many homeowners in Newton find going solar has a decent ROI.
You can click the button below to get connected with a top solar company in Newton for a quote for your home.
Solar savings over time in Newton
| Year | Return on Investment |
|---|---|
| 1 years | $-8,628 |
| 3 years | $-7,231 |
| 5 years | $-5,833 |
| 7 years | $-4,436 |
| 9 years | $-3,039 |
| 11 years | $-1,641 |
| 13 years | $-244 |
| 15 years | $1,153 |
| 17 years | $2,551 |
| 19 years | $3,948 |
| 21 years | $5,345 |
| 23 years | $6,743 |
| 25 years | $8,140 |
Top Solar Installers in Newton
When going solar, many homeowners choose to hire a solar company since DIY solar panel installation can be a difficult project. Some solar installers, especially local ones, can help you better understand incentives in Newton, therefore optimizing your ROI.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Newton:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Newton
Factors that Affect Solar Panel Costs in Newton
There are many criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 $2,770 per kilowatt in Newton. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Newton, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Newton provide solar loans, which reduce the initial cost of installing solar panels. 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 more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Newton, and each can charge varying amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $9,709 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,256 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,958 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,815 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,827 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $28,994 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,316 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,794 | 12.0 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 models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The kind of solar panel you want plays a part in which installer you should choose, since different companies have access to different panels.
- Warranty: If you care about the endurance of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Newton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Newton?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Newton?
Leasing solar panels can be an option if you can't pay upfront or secure 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 bang for your buck from going solar.
Is it worth going solar in Newton?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger 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.