Solar Panel Cost Guide in Newstead, NY (2024 Update)
- Newstead Solar Installation Cost: $11,696
- 25-Year Savings: $6,051
- Payback Period: 18.9 Years
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Average Cost of Solar Panels in Newstead
We break down 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 4 per watt.Using this figure, a typical 4.6-kW system would cost about $11,696 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs may differ based on factors unique to your home and what company you go with.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Newstead can save about $13,000 on their power bills over 20 years.
To receive a free estimate from a pre-vetted solar installation company in Newstead, you can click the button below.
Solar savings over time in Newstead
| Year | Return on Investment |
|---|---|
| 1 years | $-10,870 |
| 3 years | $-9,218 |
| 5 years | $-7,566 |
| 7 years | $-5,914 |
| 9 years | $-4,263 |
| 11 years | $-2,611 |
| 13 years | $-959 |
| 15 years | $693 |
| 17 years | $2,345 |
| 19 years | $3,997 |
| 21 years | $5,648 |
| 23 years | $7,300 |
| 25 years | $8,952 |
Top Solar Installers in Newstead
Installing solar panels yourself can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Newstead
Factors that Affect Solar Panel Costs in Newstead
For many Newstead homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Newstead, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Newstead, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $3,650 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise 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
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Newstead is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Additionally, some companies in Newstead have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $3.80 | $15,943 | $4,377 | 19.6 years |
| 8 kW | $3.72 | $20,849 | $6,245 | 19.2 years |
| 10 kW | $3.65 | $25,550 | $8,318 | 18.9 years |
| 12 kW | $3.58 | $30,047 | $10,594 | 18.5 years |
| 14 kW | $3.50 | $34,339 | $13,075 | 18.1 years |
| 16 kW | $3.43 | $38,427 | $15,761 | 17.7 years |
| 18 kW | $3.36 | $42,311 | $18,651 | 17.4 years |
| 20 kW | $3.29 | $45,990 | $21,745 | 17.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Newstead, NY Solar Cost FAQs
How much does it cost to install solar panels in Newstead?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Newstead?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Newstead, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.