Solar Panel Cost Guide in New Castle, NY (Oct 2022)

  • New Castle Solar Installation Cost: $8,652
  • 25-Year Savings: $22,039
  • Payback Period: 7.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in New Castle

Let's have a look at the average cost of solar panels in New Castle.

The average cost of a solar system in New Castle is $3 per watt. The average solar panel system size in New Castle is around 4.2 kilowatts, meaning a cost of about $8,652 for a solar installation, or $6,402 after the 30% federal solar tax credit is applied.

The true cost of your system can go above or below the average in New Castle depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. With typical savings of about $28,000 on electricity bills over 20 years, many homeowners in New Castle find investing in solar has a decent ROI.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in New Castle

Year Return on Investment
1 years $-7,425
3 years $-4,969
5 years $-2,514
7 years $-59
9 years $2,396
11 years $4,852
13 years $7,307
15 years $9,762
17 years $12,218
19 years $14,673
21 years $17,128
23 years $19,584
25 years $22,039

Top Solar Installers in New Castle

Many homeowners choose to hire a solar installer since trying to put up solar panels yourself can be time-consuming. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be right for your home.

Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 New Castle

Factors that Affect Solar Panel Costs in New Castle

Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in New Castle: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.

Solar Equipment

Size is one of the largest factors that influences the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like New Castle, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in New Castle, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.

Solar Panel Installation Company

The solar installer you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 $3.07 $12,886 $31,102 7.3 years
8 kW $3.01 $16,850 $41,800 7.2 years
10 kW $2.95 $20,650 $52,663 7.0 years
12 kW $2.89 $24,284 $63,691 6.9 years
14 kW $2.83 $27,754 $74,884 6.8 years
16 kW $2.77 $31,058 $86,243 6.6 years
18 kW $2.71 $34,196 $97,766 6.5 years
20 kW $2.66 $37,170 $109,455 6.3 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and how long the project will take.
  • Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 New Castle, NY Solar Cost FAQs

How much does it cost to install solar panels in New Castle?

This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,750 for a 5-kW system and $29,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in New Castle?

Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

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

Solar panels can increase your home value significantly 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 long do solar panels last in New Castle?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can 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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