Solar Panel Cost Guide in Newton, OH (2023 Update)
- Newton Solar Installation Cost: $14,092
- 25-Year Savings: $12,345
- Payback Period: 13.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Newton
Let's take a look at the average cost of solar panels in Newton.
While the national average of solar panels is $2.66 per watt, solar panels in Newton typically cost around 2.56. Using this figure, a typical 7.9-kW system would cost about $14,085 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Newton based on a few factors, such as the model of solar panels you choose and the solar installer you hire. With typical savings of about $13,000 on energy bills over 20 years, many homeowners in Newton find going solar can pay off big.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Newton
| Year | Return on Investment |
|---|---|
| 1 years | $-12,872 |
| 3 years | $-10,432 |
| 5 years | $-7,991 |
| 7 years | $-5,551 |
| 9 years | $-3,110 |
| 11 years | $-670 |
| 13 years | $1,771 |
| 15 years | $4,211 |
| 17 years | $6,652 |
| 19 years | $9,092 |
| 21 years | $11,532 |
| 23 years | $13,973 |
| 25 years | $16,413 |
Top Solar Installers in Newton
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels by yourself can be a lot of work. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Newton
Factors that Affect Solar Panel Costs in Newton
For many Newton homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Newton, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Newton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,560 for each additional kilowatt you need. 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 choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Newton average.
Solar Financing Terms
Most solar companies in Newton offer solar loans, which reduce your upfront costs of installing solar. While solar loans make switching to solar energy more accessible for Newton homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Newton is the company you get to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services at different price points. Larger national companies generally 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 add-on services like electric vehicle 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 | $8,989 | 13.9 years |
| 8 kW | $2.61 | $14,623 | $12,272 | 13.6 years |
| 10 kW | $2.56 | $17,920 | $15,698 | 13.3 years |
| 12 kW | $2.51 | $21,074 | $19,268 | 13.1 years |
| 14 kW | $2.46 | $24,084 | $22,981 | 12.8 years |
| 16 kW | $2.41 | $26,952 | $26,837 | 12.5 years |
| 18 kW | $2.36 | $29,676 | $30,837 | 12.3 years |
| 20 kW | $2.30 | $32,256 | $34,980 | 12.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Newton, OH Solar Cost FAQs
What is the average cost of installing solar panels in Newton?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Newton?
You can't get solar panels for free in Newton. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home 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 Newton is currently $116,335, so you could be looking at a value of about $4,770 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Newton is a worthwhile investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.