Solar Panel Cost Guide in New London, WI (2025 Update)
- New London Solar Installation Cost: $19,736
- 25-Year Savings: $23,310
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in New London
Let’s take a look at the average cost of solar in New London.
The average cost of a solar panel system in New London is 4 per watt.Using this figure, a typical 7.3-kW system would cost about $19,736 before the 0 federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely look different based on factors unique to your home and what company you go with.Despite the high upfront cost, the average New London homeowner can save around $19,000 on their energy bills over 20 years, which is one of the perks of solar.
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 New London
| Year | Return on Investment |
|---|---|
| 1 years | $-18,441 |
| 3 years | $-15,850 |
| 5 years | $-13,259 |
| 7 years | $-10,668 |
| 9 years | $-8,077 |
| 11 years | $-5,486 |
| 13 years | $-2,895 |
| 15 years | $-304 |
| 17 years | $2,287 |
| 19 years | $4,878 |
| 21 years | $7,469 |
| 23 years | $10,060 |
| 25 years | $12,651 |
Top Solar Installers in New London
Although it's possible to install solar panels by yourself, it involves extra labor and knowledge. Because of that, most people choose to hire a solar panel installer. Solar warranties and repairs are often included in the cost of installation when you sign a contract with a solar contractor too, which can save you more money after your initial investment.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 considering investing in solar. There are a few key 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
One of the most important factors to consider when it comes to the cost of adopting solar energy 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 spend around $3,880 per kilowatt in New London.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many New London homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in New London, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.04 | $16,948 | $13,219 | 14.0 years |
| 8 kW | $3.96 | $22,163 | $18,060 | 13.8 years |
| 10 kW | $3.88 | $27,160 | $23,118 | 13.5 years |
| 12 kW | $3.80 | $31,940 | $28,394 | 13.2 years |
| 14 kW | $3.72 | $36,503 | $33,886 | 13.0 years |
| 16 kW | $3.65 | $40,849 | $39,597 | 12.7 years |
| 18 kW | $3.57 | $44,977 | $45,524 | 12.4 years |
| 20 kW | $3.49 | $48,888 | $51,668 | 12.2 years |
How to Save on Solar Panels
Since the type of solar panels and the company 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:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: Before signing a contract with a solar installer, 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.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's New London, WI 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 $19,400 for a 5-kW system and $38,800 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 consume.
Are solar panels 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 eliminate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in New London, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 how much sunlight your roof gets. You can take a 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 buy 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.