Solar Panel Cost Guide in Newark, OH (2023 Update)
- Newark Solar Installation Cost: $13,601
- 25-Year Savings: $19,713
- Payback Period: 10.2 Years
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Updated May 04, 2023
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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 2.56 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 $19,449 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 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 Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you get for your solar system can increase or decrease 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Newark provide solar loans, which reduce your upfront costs of installing solar panels. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Newark is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that offer a range of services at different costs. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 |
How to Save on Solar Panels
There are a lot of companies available in Newark, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 good reviews from past customers.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Newark, OH Solar Cost FAQs
How much does it cost to install solar panels in Newark?
The average cost of solar panels in Newark is about $12,800 for a 5-kW system and $25,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Newark, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 long do solar panels last in Newark?
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 larger level 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.