Solar Panel Cost Guide in Newbury, OH (2023 Update)
- Newbury Solar Installation Cost: $13,942
- 25-Year Savings: $13,281
- Payback Period: 12.8 Years
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Updated May 04, 2023
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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 2.56. Using this figure, a typical 7.8-kW system would cost about $13,942 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Newbury homeowners. The cost 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. Despite the large upfront cost, the average Newbury homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, 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 you can install solar panels yourself, it requires extra effort and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your home.
There are several licensed solar professionals that can help you install your solar panels. 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 Newbury
Factors that Affect Solar Panel Costs in Newbury
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Newbury: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Newbury average.
Solar Financing Terms
Most solar companies in Newbury offer solar loans, which reduce your upfront costs of installing solar. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Newbury, and each can charge different amounts for labor and equipment. Larger national companies typically 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 extra 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 | $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 |
How to Save on Solar Panels
There are numerous companies to choose from in Newbury, 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:
- Contract: Before signing a contract with a solar company, make sure you look it over fully 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 component breaks or malfunctions and what services you can expect from them.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should opt for, since different companies have different panels.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Newbury, OH Solar Cost FAQs
What is the average cost of installing solar panels in Newbury?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly 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 higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Newbury?
A solar panel system isn't free in Newbury, 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.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $699.81 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.