Solar Panel Cost Guide in Newport, VT (2024 Update)

  • Newport Solar Installation Cost: $15,511
  • 25-Year Savings: $25,340
  • Payback Period: 10.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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

Find out how much it might cost to go solar in Newport.

The national average cost of solar panels is $2.66 per watt, but in Newport it’s 4 per watt.The average Newport homeowner needs a 5.8-kilowatt system, which would cost about $15,511 with the federal tax credit, or $22,181 before the 0 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 system you choose, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $24,000 over 20 years on electricity bills.

To receive a free estimate from a pre-vetted solar installation company in Newport, you can click the button below.

Solar savings over time in Newport

Year Return on Investment
1 years $-14,179
3 years $-11,516
5 years $-8,853
7 years $-6,190
9 years $-3,527
11 years $-863
13 years $1,800
15 years $4,463
17 years $7,126
19 years $9,789
21 years $12,452
23 years $15,115
25 years $17,778

Top Solar Installers in Newport

Trying to install solar panels on your own can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Another advantage of utilizing a solar company is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.

Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Newport

Factors that Affect Solar Panel Costs in Newport

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that will push your cost above or below the average in Newport: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,850. There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, 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

Many homeowners find the average cost of solar in Newport to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar installation company you select will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Some companies 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 come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is 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 $4.00 $16,817 $21,654 10.9 years
8 kW $3.93 $21,991 $29,303 10.7 years
10 kW $3.85 $26,950 $37,168 10.5 years
12 kW $3.77 $31,693 $45,249 10.3 years
14 kW $3.70 $36,221 $53,545 10.1 years
16 kW $3.62 $40,533 $62,057 9.9 years
18 kW $3.54 $44,629 $70,784 9.7 years
20 kW $3.47 $48,510 $79,727 9.5 years

How to Save on Solar Panels

Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Not all solar installers have 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.
  • Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
  • Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 Newport, VT Solar Cost FAQs

What is the average cost of installing solar panels in Newport?

This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $19,250 for a 5-kW system and $38,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, 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?

You can’t get solar panels for free in Newport. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

How will having solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Newport is currently $250,000, so you could be looking at a value of about $10,250 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Newport is a fruitful investment.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.

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.

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