Solar Panel Cost Guide in Newport, SC (Oct 2022)

  • Newport Solar Installation Cost: $15,422
  • 25-Year Savings: $24,998
  • Payback Period: 9.5 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

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 Newport

Here's how much it might cost to make the switch to solar in Newport.

The national average cost of solar panels is $2.66 per watt, but in Newport it's $3 per watt. Because a 8.1-kW system is needed to cover the energy consumption of a typical home in Newport, the average price of going solar will be about $15,422 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more. With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Newport find investing in solar has a decent ROI.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Newport

Year Return on Investment
1 years $-13,806
3 years $-10,572
5 years $-7,338
7 years $-4,105
9 years $-871
11 years $2,362
13 years $5,596
15 years $8,830
17 years $12,063
19 years $15,297
21 years $18,530
23 years $21,764
25 years $24,998

Top Solar Installers in Newport

Many homeowners decide to use a solar installer since trying to install solar panels on your own can be challenging. The payback period on a solar system will vary depending on factors like your location and energy use, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.

If you'd like to start using solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers in Newport:

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

See all of the solar companies in Newport

Factors that Affect Solar Panel Costs in Newport

For many Newport 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 Newport, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,720 per kilowatt in Newport. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

If paying for a solar system in cash is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. Though solar loans make adopting solar energy more accessible for Newport homeowners, they can also add to 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

The solar installer you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Newport, and each can charge different amounts for labor and equipment. Additionally, some companies in Newport know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. 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 $2.83 $11,881 $18,047 9.9 years
8 kW $2.77 $15,537 $24,367 9.7 years
10 kW $2.72 $19,040 $30,839 9.5 years
12 kW $2.67 $22,391 $37,464 9.4 years
14 kW $2.61 $25,590 $44,241 9.2 years
16 kW $2.56 $28,636 $51,171 9.0 years
18 kW $2.50 $31,530 $58,253 8.8 years
20 kW $2.45 $34,272 $65,487 8.6 years

Solar Incentives in Newport

Name Renewable Energy and Energy Storage Property Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Santee Cooper - Rooftop Solar Rebate Program
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Corporate)
Website Visit here
More Info Click here

Name Solar Energy, Small Hydropower, and Geothermal Tax Credit (Personal)
Website Visit here
More Info Click here

Name Duke Energy (Electric) - Residential Energy Efficiency Rebate Program
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are numerous companies to choose from in Newport, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
  • Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.

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 Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Outstanding Regional Installer

Renu Energy Solutions

★★★★★
4.5

  • Excellent reputation
  • Many financing options
  • Representatives are experts on local policies
  • No leases or PPAs

EcoWatch's Newport, SC Solar Cost FAQs

How much does it cost to install solar panels in Newport?

This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,600 for a 5-kW system and $27,200 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Newport?

A solar panel system isn't free in Newport, 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.

Does Newport have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.

How long do solar panels last in Newport?

On average, the lifespan of solar panels is 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 larger 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us