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

  • Newbury Solar Installation Cost: $13,942
  • 25-Year Savings: $13,281
  • Payback Period: 12.8 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 Newbury

Let's have a look at the average cost of solar panels in Newbury.

While the national average of solar panels is $2.66 per watt, solar panels in Newbury typically cost about $3. Because a 7.8-kW system is needed to cover the energy consumption of a typical home in Newbury, the average price of going solar will be about $13,942 before claiming the federal solar tax credit of 30%.

How much you pay can go above or below the average in Newbury based on a variety of factors, such as the type of solar panels you choose and the solar installer you hire. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on utility bills.

To calculate your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Newbury

Year Return on Investment
1 years $-12,853
3 years $-10,675
5 years $-8,497
7 years $-6,319
9 years $-4,142
11 years $-1,964
13 years $214
15 years $2,392
17 years $4,570
19 years $6,748
21 years $8,925
23 years $11,103
25 years $13,281

Top Solar Installers in Newbury

Although it's possible to install solar panels on your own, it takes extra labor and handiness. For that reason, most people choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.

Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:

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 Newbury

Factors that Affect Solar Panel Costs in Newbury

For many Newbury homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Newbury, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the solar energy system you need for your household is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,560. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Newbury, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Newbury, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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 consideration when trying to figure out the cost of solar for your home or business in Newbury is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different price points. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is within 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 $2.66 $11,182 $9,812 13.3 years
8 kW $2.61 $14,623 $13,370 13.1 years
10 kW $2.56 $17,920 $17,070 12.8 years
12 kW $2.51 $21,074 $20,914 12.5 years
14 kW $2.46 $24,084 $24,902 12.3 years
16 kW $2.41 $26,952 $29,033 12.0 years
18 kW $2.36 $29,676 $33,307 11.8 years
20 kW $2.30 $32,256 $37,725 11.5 years

Solar Incentives in Newbury

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

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

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

Name Solar Renewable Energy Certificates Program (SRECs)
Incentive Amount SREC prices vary based on market conditions
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the type of solar panels and the company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
  • Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
  • Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Warranty: If you care about the endurance of your solar energy system, checking your company offers a 25-year, all-inclusive warranty can give you some peace of mind.

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 Newbury, OH Solar Cost FAQs

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

The average cost of solar panels in Newbury 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Newbury?

A solar panel system isn't free in Newbury, 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.

Does Newbury have a net metering program?

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 give you credit toward your future utility bills.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.

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