Solar Panel Cost Guide in Newcastle, OK (2024 Update)
- Newcastle Solar Installation Cost: $18,397
- 25-Year Savings: $23,558
- Payback Period: 11.8 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Newcastle
We break down average solar pricing in Newcastle.
Although the national average of solar panels is $2.66 per watt, solar panels in Newcastle generally cost about 3.Since a 8.4-kW system is needed to cover the energy needs of a typical home in Newcastle, the average price of going solar will be about $18,397 after claiming the federal solar tax credit of 0.
The actual price you pay can be above or below the average in Newcastle depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the large initial cost, the average Newcastle homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the perks of solar.
To receive a free quote from a vetted solar company in Newcastle, you can click the button below.
Solar savings over time in Newcastle
Year | Return on Investment |
---|---|
1 years | $-17,188 |
3 years | $-14,770 |
5 years | $-12,352 |
7 years | $-9,933 |
9 years | $-7,515 |
11 years | $-5,097 |
13 years | $-2,678 |
15 years | $-260 |
17 years | $2,158 |
19 years | $4,577 |
21 years | $6,995 |
23 years | $9,413 |
25 years | $11,831 |
Top Solar Installers in Newcastle
When switching to solar energy, many homeowners decide to use a solar company since installing solar panels yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you’d like to go solar but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Newcastle:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Newcastle
Factors that Affect Solar Panel Costs in Newcastle
The cost of installing a solar system in Newcastle can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
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 crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Newcastle, where sunlight is 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
If paying for a solar system in cash is difficult, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It’s a good idea to add 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 back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Newcastle, and each can charge varying amounts for labor and equipment.Additionally, some companies in Newcastle are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
---|---|---|---|---|
6 kW | $3.26 | $13,672 | $14,166 | 12.3 years |
8 kW | $3.19 | $17,879 | $19,238 | 12.0 years |
10 kW | $3.13 | $21,910 | $24,486 | 11.8 years |
12 kW | $3.07 | $25,766 | $29,909 | 11.6 years |
14 kW | $3.00 | $29,447 | $35,507 | 11.3 years |
16 kW | $2.94 | $32,953 | $41,281 | 11.1 years |
18 kW | $2.88 | $36,283 | $47,229 | 10.9 years |
20 kW | $2.82 | $39,438 | $53,353 | 10.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Newcastle, OK Solar Cost FAQs
How much does it cost to install solar panels in Newcastle?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $15,650 for a 5-kW system and $31,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other 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 want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Newcastle?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Newcastle, that will require at least a 10-kW system. Not all homes 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 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 average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to cover 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.