Solar Panel Cost Guide in New Hanover, PA (2024 Update)

  • New Hanover Solar Installation Cost: $16,365
  • 25-Year Savings: $13,929
  • Payback Period: 15.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New Hanover

Let’s have a look at the average cost of solar in New Hanover.

While the national average of solar panels is $2.66 per watt, solar panels in New Hanover typically cost about 4.To cover the typical energy usage of the average home in New Hanover, most homeowners require a 6.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,365, or $23,402 before the federal solar tax credit of 0 is applied.

How much you pay can be above or below the average in New Hanover based on a few factors, such as the brand of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $15,000 in savings on utility bills over 20 years.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in New Hanover

Year Return on Investment
1 years $-15,122
3 years $-12,636
5 years $-10,150
7 years $-7,664
9 years $-5,178
11 years $-2,692
13 years $-206
15 years $2,280
17 years $4,766
19 years $7,252
21 years $9,738
23 years $12,224
25 years $14,710

Top Solar Installers in New Hanover

Installing solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Another great thing about using a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.

Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in New Hanover

Factors that Affect Solar Panel Costs in New Hanover

The cost of installing a solar system in New Hanover can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,550. The brand of solar panels and equipment you get is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in New Hanover, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.Although solar loans make going solar more accessible for New Hanover homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

A final consideration when trying to evaluate the cost of solar for your home or business in New Hanover is the company you hire to install your PV system. Similar to choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have 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 $3.69 $15,506 $7,894 16.6 years
8 kW $3.62 $20,278 $10,923 16.2 years
10 kW $3.55 $24,850 $14,151 15.9 years
12 kW $3.48 $29,224 $17,578 15.6 years
14 kW $3.41 $33,398 $21,203 15.3 years
16 kW $3.34 $37,374 $25,027 15.0 years
18 kW $3.27 $41,152 $29,050 14.7 years
20 kW $3.19 $44,730 $33,272 14.3 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
  • Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's New Hanover, PA Solar Cost FAQs

How much does it cost to install solar panels in New Hanover?

This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,750 for a 5-kW system and $35,500 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in New Hanover?

Solar panels aren’t free in New Hanover, but there are some options that can make getting them more viable, 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 will having solar panels impact my property value?

Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage 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 account for 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.

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