Solar Panel Cost Guide in Newfield, NY (2023 Update)
- Newfield Solar Installation Cost: $9,623
- 25-Year Savings: $5,177
- Payback Period: 16.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Newfield
Find out what the average cost of solar panels are in Newfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Newfield, the average cost of solar panels is 2.95 per watt. The average solar panel system size in Newfield is around 4.7 kilowatts, meaning a cost of about $9,623 for a solar installation, or $13,761 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Newfield see about $12,000 in savings on utility bills over 20 years.
To receive a free quote from a highly rated solar company in Newfield, you can click the button below.
Solar savings over time in Newfield
| Year | Return on Investment |
|---|---|
| 1 years | $-9,031 |
| 3 years | $-7,847 |
| 5 years | $-6,663 |
| 7 years | $-5,479 |
| 9 years | $-4,295 |
| 11 years | $-3,111 |
| 13 years | $-1,927 |
| 15 years | $-743 |
| 17 years | $441 |
| 19 years | $1,625 |
| 21 years | $2,809 |
| 23 years | $3,993 |
| 25 years | $5,177 |
Top Solar Installers in Newfield
Although it's possible to install solar panels on your own, it requires extra labor and handiness. Because of that, most homeowners choose to hire a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Newfield:
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 Newfield
Factors that Affect Solar Panel Costs in Newfield
There are many criteria that can play into 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,950 per kilowatt in Newfield. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra 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 Newfield to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. While solar loans make going solar more accessible for Newfield homeowners, they can also increase 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 green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Newfield, and each can charge different amounts for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fit into 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 | $3.07 | $12,886 | $6,171 | 16.9 years |
| 8 kW | $3.01 | $16,850 | $8,559 | 16.6 years |
| 10 kW | $2.95 | $20,650 | $11,112 | 16.3 years |
| 12 kW | $2.89 | $24,284 | $13,829 | 15.9 years |
| 14 kW | $2.83 | $27,754 | $16,713 | 15.6 years |
| 16 kW | $2.77 | $31,058 | $19,761 | 15.3 years |
| 18 kW | $2.71 | $34,196 | $22,974 | 15.0 years |
| 20 kW | $2.66 | $37,170 | $26,353 | 14.6 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
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 Newfield, NY Solar Cost FAQs
How much does it cost to install solar panels in Newfield?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Newfield?
Solar panels aren't free in Newfield, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go 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 many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.