Solar Panel Cost Guide in Newbury, OH (2024 Update)
- Newbury Solar Installation Cost: $18,571
- 25-Year Savings: $13,281
- Payback Period: 17.1 Years
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Average Cost of Solar Panels in Newbury
Find out how much it might cost to make the switch to solar in Newbury.
The average cost of a solar panel system in Newbury is 3 per watt.To cover the typical energy usage of the average home in Newbury, most homeowners require a 7.8-kilowatt system. Using the figure above, a solar installation costs around $18,571, or $26,557 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Newbury homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Newbury can save about $13,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Newbury for a quote for your home.
Solar savings over time in Newbury
| Year | Return on Investment |
|---|---|
| 1 years | $-17,317 |
| 3 years | $-14,810 |
| 5 years | $-12,302 |
| 7 years | $-9,794 |
| 9 years | $-7,287 |
| 11 years | $-4,779 |
| 13 years | $-2,272 |
| 15 years | $236 |
| 17 years | $2,744 |
| 19 years | $5,251 |
| 21 years | $7,759 |
| 23 years | $10,267 |
| 25 years | $12,774 |
Top Solar Installers in Newbury
Installing solar panels on your own can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Newbury
Factors that Affect Solar Panel Costs in Newbury
The cost of installing a solar system in Newbury can vary by more than $10,000 from home to home. Your actual cost is dependent 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 cost of solar panels varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.While solar loans make adopting solar energy more accessible for Newbury homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Newbury, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $6,099 | 17.7 years |
| 8 kW | $3.48 | $19,478 | $8,514 | 17.4 years |
| 10 kW | $3.41 | $23,870 | $11,120 | 17.1 years |
| 12 kW | $3.34 | $28,071 | $13,917 | 16.7 years |
| 14 kW | $3.27 | $32,081 | $16,905 | 16.4 years |
| 16 kW | $3.21 | $35,900 | $20,084 | 16.0 years |
| 18 kW | $3.14 | $39,529 | $23,454 | 15.7 years |
| 20 kW | $3.07 | $42,966 | $27,015 | 15.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Newbury, 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 signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While 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 options before deciding.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Newbury, OH Solar Cost FAQs
How much does it cost to install solar panels in Newbury?
The average cost of solar panels in Newbury is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newbury is currently $291,868, so you can look forward to a value of about $11,967 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Newbury is a rewarding investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 buy between 20 and 35 panels to account for 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.