Solar Panel Cost Guide in Newcastle, OK (Mar 2023)
- Newcastle Solar Installation Cost: $15,406
- 25-Year Savings: $23,552
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Newcastle
See how much it might cost to install solar panels in Newcastle.
In Newcastle, solar panels cost about 2.62 per watt on average. To cover the typical energy usage of the average home in Newcastle, most homeowners require a 8.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $15,406, or $22,031 before the federal solar tax credit of 30% is applied.
How much you pay can go above or below the average in Newcastle depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. Even with the large upfront cost, the average Newcastle homeowner can save around $18,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Newcastle
| Year | Return on Investment |
|---|---|
| 1 years | $-13,847 |
| 3 years | $-10,731 |
| 5 years | $-7,614 |
| 7 years | $-4,497 |
| 9 years | $-1,381 |
| 11 years | $1,736 |
| 13 years | $4,852 |
| 15 years | $7,969 |
| 17 years | $11,086 |
| 19 years | $14,202 |
| 21 years | $17,319 |
| 23 years | $20,435 |
| 25 years | $23,552 |
Top Solar Installers in Newcastle
Installing solar panels yourself can be a challenging task, which is why using a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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
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 Newcastle
Factors that Affect Solar Panel Costs in Newcastle
Though the average cost of a solar system in Newcastle is $15,406, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major 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 $2,620. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Newcastle, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Newcastle is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.72 | $11,444 | $16,393 | 10.3 years |
| 8 kW | $2.67 | $14,965 | $22,151 | 10.1 years |
| 10 kW | $2.62 | $18,340 | $28,056 | 9.9 years |
| 12 kW | $2.57 | $21,568 | $34,107 | 9.7 years |
| 14 kW | $2.52 | $24,649 | $40,305 | 9.5 years |
| 16 kW | $2.46 | $27,583 | $46,650 | 9.3 years |
| 18 kW | $2.41 | $30,371 | $53,141 | 9.1 years |
| 20 kW | $2.36 | $33,012 | $59,779 | 8.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Newcastle, OK Solar Cost FAQs
How much does it cost to install solar panels in Newcastle?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,100 for a 5-kW system and $26,200 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Newcastle have a net metering program?
Each state has some kind 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 power bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.