Solar Panel Cost Guide in New London, PA (2024 Update)
- New London Solar Installation Cost: $16,246
- 25-Year Savings: $14,392
- Payback Period: 15.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in New London
See how much it might cost to make the switch to solar in New London.
The national average cost of solar panels is $2.66 per watt, but in New London it’s 4 per watt.The average New London homeowner needs a 6.5-kilowatt system, which would cost about $16,246 with the federal tax credit, or $23,232 before the 0 tax credit is applied.
These figures are only averages, and your own solar costs may differ based on factors unique to your home and what company you go with.With typical savings of about $15,000 on power bills over 20 years, many homeowners in New London find installing solar panels has a decent ROI.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in New London
| Year | Return on Investment |
|---|---|
| 1 years | $-14,944 |
| 3 years | $-12,342 |
| 5 years | $-9,739 |
| 7 years | $-7,136 |
| 9 years | $-4,534 |
| 11 years | $-1,931 |
| 13 years | $672 |
| 15 years | $3,274 |
| 17 years | $5,877 |
| 19 years | $8,480 |
| 21 years | $11,082 |
| 23 years | $13,685 |
| 25 years | $16,288 |
Top Solar Installers in New London
Although it's possible to install solar panels by yourself, it requires extra energy and expertise. Because of that, most homeowners choose to go with a solar panel installer. The payback period on a solar system will vary depending on factors like your roof configuration and energy needs, but working with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in New London
Factors that Affect Solar Panel Costs in New London
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in New London: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 $3,550.The type of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, 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
Most solar installers in New London offer solar loans, which reduce your upfront costs of installing solar.However, the interest on solar loans also increases your overall costs, so it’s crucial to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in New London, and each can charge varying amounts for labor and 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 promotions 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 | $3.69 | $15,506 | $8,413 | 16.2 years |
| 8 kW | $3.62 | $20,278 | $11,614 | 15.9 years |
| 10 kW | $3.55 | $24,850 | $15,015 | 15.6 years |
| 12 kW | $3.48 | $29,224 | $18,614 | 15.3 years |
| 14 kW | $3.41 | $33,398 | $22,412 | 15.0 years |
| 16 kW | $3.34 | $37,374 | $26,409 | 14.6 years |
| 18 kW | $3.27 | $41,152 | $30,605 | 14.3 years |
| 20 kW | $3.19 | $44,730 | $35,000 | 14.0 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 select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's New London, PA Solar Cost FAQs
What is the average cost of installing solar panels in New London?
The average cost of solar panels in New London is about $17,750 for a 5-kW system and $35,500 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in New London?
Solar panels aren’t free in New London, 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 can help lower the cost.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $797.30 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.