Solar Panel Cost Guide in Bayonne, NJ (2023 Update)
- Bayonne Solar Installation Cost: $8,919
- 25-Year Savings: $8,931
- Payback Period: 12.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bayonne
Find out what the average cost of solar panels are in Bayonne.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bayonne, the average cost of solar panels is 2.77 per watt. The average solar panel system size in Bayonne is around 4.6 kilowatts, meaning a cost of about $8,919 for a solar installation, or $12,754 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what solar installer you go with. With average savings of about $15,000 on utility bills over 20 years, many homeowners in Bayonne find installing solar panels has a decent ROI.
To receive a free quote from a vetted solar installation company in Bayonne, you can click the button below.
Solar savings over time in Bayonne
| Year | Return on Investment |
|---|---|
| 1 years | $-8,205 |
| 3 years | $-6,777 |
| 5 years | $-5,349 |
| 7 years | $-3,921 |
| 9 years | $-2,493 |
| 11 years | $-1,065 |
| 13 years | $363 |
| 15 years | $1,791 |
| 17 years | $3,219 |
| 19 years | $4,647 |
| 21 years | $6,075 |
| 23 years | $7,503 |
| 25 years | $8,931 |
Top Solar Installers in Bayonne
Although you can install solar panels by yourself, it requires extra energy and expertise. That's why the majority of homeowners choose a solar panel installer. In addition, if you'd like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you're searching for a solar installer in Bayonne, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Bayonne
Factors that Affect Solar Panel Costs in Bayonne
The cost of installing a solar system in Bayonne can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Bayonne homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Bayonne, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Bayonne are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.88 | $12,099 | $11,176 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,212 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,402 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,748 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,249 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,905 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,716 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,683 | 11.2 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 find the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bayonne, NJ Solar Cost FAQs
How much does it cost to install solar panels in Bayonne?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Bayonne?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
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.