Solar Panel Cost Guide in New Hanover, PA (2025 Update)
- New Hanover Solar Installation Cost: $16,365
- 25-Year Savings: $13,929
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in New Hanover
Let’s have a look at the average cost of solar in New Hanover.
In New Hanover, solar panels cost about 4 per watt on average.The average solar panel system size in New Hanover is around 6.6 kilowatts, meaning a cost of about $16,365 for a solar installation, or $23,402 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
To receive a free estimate from a top solar company in New Hanover, you can 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
Although it's possible to install solar panels on your own, it involves extra time and knowledge. For that reason, almost all homeowners choose a solar panel installer. Another great thing about going with a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
If you’d like to switch to solar energy but still aren’t sure which solar panel installer to go with, here are our recommendations for providers near you:
See all of the solar companies in New Hanover
Factors that Affect Solar Panel Costs in New Hanover
There are a number of criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant 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 around $3,550 per kilowatt in New Hanover.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in New Hanover to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in New Hanover, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in New Hanover are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.69 | $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 many companies available in New Hanover, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
EcoWatch's New Hanover, PA Solar Cost FAQs
How much does it cost to install solar panels in New Hanover?
This is a tough question to answer exactly, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in New Hanover?
A solar panel system isn’t free in New Hanover, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in New Hanover is currently $358,674, so you can expect a value of about $14,706 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in New Hanover is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a 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 install 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.