Solar Panel Cost Guide in Newark, OH (Sep 2022)

  • Newark Solar Installation Cost: $13,601
  • 25-Year Savings: $19,713
  • Payback Period: 10.2 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 Newark

Find out how much it might cost to go solar in Newark.

The average cost of solar panels in Newark is $3 per watt. The average solar panel system size in Newark is around 7.6 kilowatts, meaning a cost of about $13,601 for a solar installation, or $10,065 after 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 panel system. The true cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $17,000 in savings on utility bills over 20 years.

Click the button below to get connected to a vetted solar company in Newark for a customized estimate.

Solar savings over time in Newark

Year Return on Investment
1 years $-12,269
3 years $-9,604
5 years $-6,938
7 years $-4,273
9 years $-1,608
11 years $1,057
13 years $3,722
15 years $6,387
17 years $9,052
19 years $11,718
21 years $14,383
23 years $17,048
25 years $19,713

Top Solar Installers in Newark

Installing solar panels on your own can be a challenging task, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
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 Newark

Factors that Affect Solar Panel Costs in Newark

There are a number of factors that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

Size is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think 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 looking for a solar system that falls within your budget.

Solar Financing Terms

Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Newark homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

Finally, the company you get to install your solar system can influence the cost. Newark's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Newark are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $2.66 $11,182 $15,148 10.6 years
8 kW $2.61 $14,623 $20,485 10.4 years
10 kW $2.56 $17,920 $25,964 10.2 years
12 kW $2.51 $21,074 $31,587 10.0 years
14 kW $2.46 $24,084 $37,353 9.8 years
16 kW $2.41 $26,952 $43,263 9.6 years
18 kW $2.36 $29,676 $49,316 9.4 years
20 kW $2.30 $32,256 $55,512 9.2 years

Solar Incentives in Newark

Name Hamilton County - Home Improvement Program
Incentive Amount $50,000
Website Visit here
More Info Click here

Name Local Option - Special Energy Improvement Districts
More Info Click here

Name Energy Conservation for Ohioans (ECO-Link) Program
Website Visit here
More Info Click here

Name Solar Renewable Energy Certificates Program (SRECs)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many companies to choose from in Newark, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:

  • Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
  • Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • 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 installer, such as what permits you should secure and how long the project will take.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

The Green Panel

★★★★★
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 Newark, OH Solar Cost FAQs

What is the average cost of installing solar panels in Newark?

This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $12,800 for a 5-kW system and $25,600 for a 10-kW system after the ITC is applied. You can expect to pay 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 opt for a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Newark?

A solar panel system isn't free in Newark, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Newark?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.

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 how much 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 get between 20 and 35 panels to cover 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.

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