Solar Panel Cost Guide in New Hanover, PA (2023 Update)
- New Hanover Solar Installation Cost: $11,763
- 25-Year Savings: $13,921
- Payback Period: 11.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in New Hanover
We go over average solar pricing in New Hanover.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Hanover, the typical cost of a solar system is 2.55 per watt. Since a 6.6-kW system is needed to cover the energy consumption of a typical home in New Hanover, the average price of going solar will be about $11,763 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and how much solar costs for you will look different based on your specific situation and what company you want to go with. For most homeowners, the upfront cost of solar panels is worth paying. On average New Hanover homeowners see about $15,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom quote.
Solar savings over time in New Hanover
| Year | Return on Investment |
|---|---|
| 1 years | $-10,736 |
| 3 years | $-8,681 |
| 5 years | $-6,626 |
| 7 years | $-4,572 |
| 9 years | $-2,517 |
| 11 years | $-462 |
| 13 years | $1,592 |
| 15 years | $3,647 |
| 17 years | $5,702 |
| 19 years | $7,756 |
| 21 years | $9,811 |
| 23 years | $11,866 |
| 25 years | $13,921 |
Top Solar Installers in New Hanover
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar company can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 New Hanover
Factors that Affect Solar Panel Costs in New Hanover
For many New Hanover homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in New Hanover, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,550. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like New Hanover, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many New Hanover homeowners decide to finance their solar panel systems to make paying for solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in New Hanover is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.65 | $11,138 | $12,262 | 11.9 years |
| 8 kW | $2.60 | $14,566 | $16,635 | 11.7 years |
| 10 kW | $2.55 | $17,850 | $21,151 | 11.4 years |
| 12 kW | $2.50 | $20,992 | $25,810 | 11.2 years |
| 14 kW | $2.45 | $23,990 | $30,611 | 11.0 years |
| 16 kW | $2.40 | $26,846 | $35,555 | 10.8 years |
| 18 kW | $2.35 | $29,560 | $40,642 | 10.5 years |
| 20 kW | $2.29 | $32,130 | $45,872 | 10.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- 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 large role in the company you choose.
- Contract: Before you sign a contract with a solar company, be sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: When making the switch to solar, it's essential to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the completion timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 New Hanover, PA Solar Cost FAQs
What is the average cost of installing solar panels in New Hanover?
The average cost of solar panels in New Hanover is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
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 can help lower the cost.
Is it worth going solar in New Hanover?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.