Solar Panel Cost Guide in Newstead, NY (2023 Update)
- Newstead Solar Installation Cost: $9,458
- 25-Year Savings: $6,046
- Payback Period: 15.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Newstead
We go over average solar pricing in Newstead.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Newstead, the typical cost of a solar system is 2.95 per watt. Using this figure, a typical 4.6-kW system would cost about $9,458 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more. With average savings of about $13,000 on utility bills over 20 years, many homeowners in Newstead find going solar can pay off big.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Newstead
| Year | Return on Investment |
|---|---|
| 1 years | $-8,838 |
| 3 years | $-7,597 |
| 5 years | $-6,357 |
| 7 years | $-5,117 |
| 9 years | $-3,876 |
| 11 years | $-2,636 |
| 13 years | $-1,396 |
| 15 years | $-156 |
| 17 years | $1,085 |
| 19 years | $2,325 |
| 21 years | $3,565 |
| 23 years | $4,806 |
| 25 years | $6,046 |
Top Solar Installers in Newstead
When switching to solar energy, many homeowners decide to go with a solar installation company since putting up solar panels yourself can be a difficult project. Plus, if you're not certain what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
Working with a professional solar installer can make going solar easier. 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 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 Newstead
Factors that Affect Solar Panel Costs in Newstead
The cost of installing a solar system in Newstead can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,950. The brand and type of equipment you want 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 have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Newstead homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Newstead, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in Newstead know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $7,435 | 15.9 years |
| 8 kW | $3.01 | $16,850 | $10,244 | 15.5 years |
| 10 kW | $2.95 | $20,650 | $13,218 | 15.2 years |
| 12 kW | $2.89 | $24,284 | $16,357 | 14.9 years |
| 14 kW | $2.83 | $27,754 | $19,661 | 14.6 years |
| 16 kW | $2.77 | $31,058 | $23,130 | 14.3 years |
| 18 kW | $2.71 | $34,196 | $26,765 | 14.0 years |
| 20 kW | $2.66 | $37,170 | $30,565 | 13.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- 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 solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should go with, since different companies offer different panels.
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 Newstead, NY Solar Cost FAQs
What is the average cost of installing solar panels in Newstead?
The average cost of solar panels in Newstead 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $677.35 per year.
How often do you have to replace solar panels?
Though 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 their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use 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.