Solar Panel Cost Guide in New London, PA (2023 Update)
- New London Solar Installation Cost: $11,674
- 25-Year Savings: $14,388
- Payback Period: 11.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New London
We go over average solar pricing in New London.
Although the national average of solar panels is $2.66 per watt, solar panels in New London typically cost around 2.55. Because a 6.5-kW system is needed to cover the energy usage of a typical home in New London, the average price of going solar will be about $11,674 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. With average savings of about $15,000 on utility bills over 20 years, many homeowners in New London find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in New London for a quote for your home.
Solar savings over time in New London
| Year | Return on Investment |
|---|---|
| 1 years | $-10,631 |
| 3 years | $-8,546 |
| 5 years | $-6,462 |
| 7 years | $-4,377 |
| 9 years | $-2,292 |
| 11 years | $-207 |
| 13 years | $1,878 |
| 15 years | $3,963 |
| 17 years | $6,048 |
| 19 years | $8,133 |
| 21 years | $10,218 |
| 23 years | $12,303 |
| 25 years | $14,388 |
Top Solar Installers in New London
Although you can install solar panels yourself, it involves extra time and expertise. That's why most homeowners choose to go with a solar panel installer. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in New London
Factors that Affect Solar Panel Costs in New London
While the average cost of a solar system in New London is $11,674, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's vital to take that into consideration as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that has the products, warranties and services you're looking for and also fits within your budget.
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 | $12,781 | 11.6 years |
| 8 kW | $2.60 | $14,566 | $17,326 | 11.4 years |
| 10 kW | $2.55 | $17,850 | $22,015 | 11.2 years |
| 12 kW | $2.50 | $20,992 | $26,846 | 11.0 years |
| 14 kW | $2.45 | $23,990 | $31,820 | 10.7 years |
| 16 kW | $2.40 | $26,846 | $36,937 | 10.5 years |
| 18 kW | $2.35 | $29,560 | $42,197 | 10.3 years |
| 20 kW | $2.29 | $32,130 | $47,600 | 10.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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: The kind of solar panel you need plays a part in which company you should go with, since different companies have access to different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's New London, PA Solar Cost FAQs
How much does it cost to install solar panels in New London?
The average cost of solar panels in New London is about $12,750 for a 5-kW system and $25,500 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in New London?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.