Solar Panel Cost Guide in New Martinsville, WV (2023 Update)
- New Martinsville Solar Installation Cost: $21,030
- 25-Year Savings: $28,058
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in New Martinsville
We go over average solar pricing in New Martinsville.
The national average cost of solar panels is $2.66 per watt, but in New Martinsville it's 2.64 per watt. The average New Martinsville homeowner needs a 11.4-kilowatt system, which would cost about $21,030 with the federal tax credit, or $30,073 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average New Martinsville homeowners see about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in New Martinsville that can help you get a more accurate cost estimate for your home.
Solar savings over time in New Martinsville
| Year | Return on Investment |
|---|---|
| 1 years | $-19,067 |
| 3 years | $-15,140 |
| 5 years | $-11,213 |
| 7 years | $-7,286 |
| 9 years | $-3,358 |
| 11 years | $569 |
| 13 years | $4,496 |
| 15 years | $8,423 |
| 17 years | $12,350 |
| 19 years | $16,277 |
| 21 years | $20,204 |
| 23 years | $24,131 |
| 25 years | $28,058 |
Top Solar Installers in New Martinsville
Many homeowners opt for a solar installation company since installing solar panels on your own can be time-consuming. The expertise that solar installers offer can be invaluable as well, especially if you aren't sure what type of solar equipment would be right for your home.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Technology
Tesla Energy
- 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 New Martinsville
Factors that Affect Solar Panel Costs in New Martinsville
For many New Martinsville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in New Martinsville, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in New Martinsville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,640 for each additional kilowatt you need. The model of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in New Martinsville offer solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in New Martinsville is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that offer a range of services for different budgets. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials 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 | $2.75 | $11,532 | $14,347 | 11.1 years |
| 8 kW | $2.69 | $15,080 | $19,426 | 10.9 years |
| 10 kW | $2.64 | $18,480 | $24,652 | 10.7 years |
| 12 kW | $2.59 | $21,732 | $30,026 | 10.5 years |
| 14 kW | $2.53 | $24,837 | $35,547 | 10.3 years |
| 16 kW | $2.48 | $27,794 | $41,217 | 10.1 years |
| 18 kW | $2.43 | $30,603 | $47,034 | 9.9 years |
| 20 kW | $2.38 | $33,264 | $52,999 | 9.6 years |
How to Save on Solar Panels
There are many companies to choose from in New Martinsville, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
Best Technology
Tesla Energy
- 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 New Martinsville, WV Solar Cost FAQs
How much does it cost to install solar panels in New Martinsville?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in New Martinsville?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in New Martinsville?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.