Solar Panel Cost Guide in Newburgh, NY (2023 Update)
- Newburgh Solar Installation Cost: $8,937
- 25-Year Savings: $13,153
- Payback Period: 10.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Newburgh
Here's how much it might cost to switch to solar power in Newburgh.
The national average cost of solar panels is $2.66 per watt, but in Newburgh it's 2.95 per watt. The average solar panel system size in Newburgh is around 4.3 kilowatts, meaning a cost of about $8,941 for a solar installation, or $12,786 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Newburgh homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
To receive a free estimate from a highly rated solar installation company in Newburgh, you can click the button below.
Solar savings over time in Newburgh
| Year | Return on Investment |
|---|---|
| 1 years | $-8,863 |
| 3 years | $-8,716 |
| 5 years | $-8,569 |
| 7 years | $-8,421 |
| 9 years | $-8,274 |
| 11 years | $-8,127 |
| 13 years | $-7,980 |
| 15 years | $-7,832 |
| 17 years | $-7,685 |
| 19 years | $-7,538 |
| 21 years | $-7,391 |
| 23 years | $-7,243 |
| 25 years | $-7,096 |
Top Solar Installers in Newburgh
Although you can install solar panels yourself, it involves extra energy and know-how. That's one of the reasons most people choose a solar panel installer. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Newburgh
Factors that Affect Solar Panel Costs in Newburgh
Although the average cost of a solar system in Newburgh is $8,941, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Newburgh, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,950 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When considering 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 lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a role in determining how much you pay. Newburgh's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $3.07 | $12,886 | $17,740 | 10.5 years |
| 8 kW | $3.01 | $16,850 | $23,983 | 10.3 years |
| 10 kW | $2.95 | $20,650 | $30,392 | 10.1 years |
| 12 kW | $2.89 | $24,284 | $36,966 | 9.9 years |
| 14 kW | $2.83 | $27,754 | $43,705 | 9.7 years |
| 16 kW | $2.77 | $31,058 | $50,610 | 9.5 years |
| 18 kW | $2.71 | $34,196 | $57,679 | 9.3 years |
| 20 kW | $2.66 | $37,170 | $64,914 | 9.1 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 select the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the longevity of your solar energy 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 closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- 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 brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Newburgh, NY Solar Cost FAQs
How much does it cost to install solar panels in Newburgh?
The average cost of solar panels in Newburgh is about $14,750 for a 5-kW system and $29,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Newburgh?
Leasing solar panels can be an option if you can't afford to 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 savings from going solar.
Can you sell solar power back to the grid in Newburgh?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Newburgh?
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 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.