Solar Panel Cost Guide in Newcastle, OK (2023 Update)
- Newcastle Solar Installation Cost: $15,400
- 25-Year Savings: $23,558
- Payback Period: 9.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Newcastle
Find out how much it might cost to make the switch to solar in Newcastle.
In Newcastle, solar panels cost about 2.62 per watt on average. The average Newcastle homeowner needs a 8.4-kilowatt system, which would cost about $15,406 with the federal tax credit, or $22,031 before the 30% tax credit is applied.
These figures are only averages, and your own solar costs will vary based on your specific situation and what company you choose to go with. Many homeowners find installing a solar system is a sound investment. The average homeowner in Newcastle can save about $18,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Newcastle that can help you get a more accurate cost estimate for your home.
Solar savings over time in Newcastle
| Year | Return on Investment |
|---|---|
| 1 years | $-15,270 |
| 3 years | $-15,010 |
| 5 years | $-14,750 |
| 7 years | $-14,491 |
| 9 years | $-14,231 |
| 11 years | $-13,971 |
| 13 years | $-13,711 |
| 15 years | $-13,452 |
| 17 years | $-13,192 |
| 19 years | $-12,932 |
| 21 years | $-12,673 |
| 23 years | $-12,413 |
| 25 years | $-12,153 |
Top Solar Installers in Newcastle
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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
For many Newcastle homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Newcastle, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,620 per kilowatt in Newcastle. 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. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Newcastle average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Newcastle homeowners decide to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence your pricing. Newcastle's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes 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
EcoWatch's Newcastle, OK Solar Cost FAQs
What is the average cost of installing solar panels in Newcastle?
The average cost of solar panels in Newcastle is about $13,100 for a 5-kW system and $26,200 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 it better to lease or buy solar panels in Newcastle?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on electricity bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Newcastle, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 goes down 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.