Solar Panel Cost Guide in New Castle, NY (2024 Update)
- New Castle Solar Installation Cost: $10,696
- 25-Year Savings: $22,046
- Payback Period: 8.7 Years
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Average Cost of Solar Panels in New Castle
Here’s how much it might cost to make the switch to solar in New Castle.
The average cost of solar panels in New Castle is 4 per watt.Using this figure, a typical 4.2-kW system would cost about $10,696 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average New Castle homeowner. The price 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 $28,000 on power bills over 20 years, many homeowners in New Castle find going solar has a decent ROI.
You can click the button below to get connected with a top solar installer in New Castle that can help you get a more accurate cost estimate for your home.
Solar savings over time in New Castle
| Year | Return on Investment |
|---|---|
| 1 years | $-8,816 |
| 3 years | $-5,057 |
| 5 years | $-1,298 |
| 7 years | $2,462 |
| 9 years | $6,221 |
| 11 years | $9,981 |
| 13 years | $13,740 |
| 15 years | $17,499 |
| 17 years | $21,259 |
| 19 years | $25,018 |
| 21 years | $28,777 |
| 23 years | $32,537 |
| 25 years | $36,296 |
Top Solar Installers in New Castle
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. For that reason, most homeowners choose to go with a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in New Castle
Factors that Affect Solar Panel Costs in New Castle
For many New Castle homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in New Castle, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like New Castle, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Many homeowners find the average cost of solar in New Castle to be too expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating throughout New Castle, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $28,044 | 9.1 years |
| 8 kW | $3.72 | $20,849 | $37,801 | 8.9 years |
| 10 kW | $3.65 | $25,550 | $47,763 | 8.7 years |
| 12 kW | $3.58 | $30,047 | $57,928 | 8.5 years |
| 14 kW | $3.50 | $34,339 | $68,298 | 8.4 years |
| 16 kW | $3.43 | $38,427 | $78,873 | 8.2 years |
| 18 kW | $3.36 | $42,311 | $89,652 | 8.0 years |
| 20 kW | $3.29 | $45,990 | $100,635 | 7.8 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: The type of solar panel you need plays a part in which company you should choose, since different companies offer different panels.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's New Castle, NY Solar Cost FAQs
How much does it cost to install solar panels in New Castle?
The average cost of solar panels in New Castle is about $18,250 for a 5-kW system and $36,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in New Castle?
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 don’t have access to 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 New Castle?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in New Castle?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.