Solar Panel Cost Guide in Bayonne, NJ (Jul 2022)
- Bayonne Solar Installation Cost: $9,429
- 25-Year Savings: $8,421
- Payback Period: 13.2 Years
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Updated 6/24/2022
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Average Cost of Solar Panels in Bayonne
Find out what the average cost of a solar system is in Bayonne.
The average cost of a solar panel system in Bayonne is $3 per watt. The average Bayonne homeowner needs a 4.6-kilowatt system, which would cost about $9,429, or $6,977 after the federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will differ based on your energy needs and what company you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Bayonne see about $15,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Bayonne
| Year | Return on Investment |
|---|---|
| 1 years | $-8,715 |
| 3 years | $-7,287 |
| 5 years | $-5,859 |
| 7 years | $-4,431 |
| 9 years | $-3,003 |
| 11 years | $-1,575 |
| 13 years | $-147 |
| 15 years | $1,281 |
| 17 years | $2,709 |
| 19 years | $4,137 |
| 21 years | $5,565 |
| 23 years | $6,993 |
| 25 years | $8,421 |
Top Solar Installers in Bayonne
When going solar, many homeowners opt to go with a solar installer since DIY solar panel installation can be a difficult project. Solar warranties and repairs are often included in the cost of installation when you opt for a solar contractor as well, which can save you more money over time.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
4.5
Great warranty coverage- Representatives are experts on local policies
- Concierge service ensures steady communication
-
Slightly limited service offerings
Best Technology
Tesla Energy
4.5
- 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 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 most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment Size
System size is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Bayonne average.
Solar Financing Terms
Most solar installers in Bayonne offer solar loans, which reduce the initial cost of installing a solar system. Although solar loans make going solar more accessible for Bayonne homeowners, they can also add to the total you pay for your system due to interest. 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 remaining key cost factor you should consider is the installer you choose. Given the booming popularity of green 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 know more about local solar incentives and can help you learn about 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 | $2.88 | $12,791 | $10,485 | 13.7 years |
| 8 kW | $2.83 | $16,726 | $14,307 | 13.5 years |
| 10 kW | $2.77 | $20,498 | $18,294 | 13.2 years |
| 12 kW | $2.71 | $24,106 | $22,445 | 12.9 years |
| 14 kW | $2.66 | $27,549 | $26,760 | 12.7 years |
| 16 kW | $2.60 | $30,829 | $31,239 | 12.4 years |
| 18 kW | $2.55 | $33,945 | $35,882 | 12.2 years |
| 20 kW | $2.49 | $36,896 | $40,688 | 11.9 years |
Solar Incentives in Bayonne
| Name | NJ Clean Energy- Residential New Construction Program |
| Incentive Amount | Incentives depend on the HERS score and the classification Single family homes: Ranges from $1,125 to - 24,250 Multi-single homes: Ranges from $1,125 to $18,188 Multifamily homes: Ranges from $625-$12,125 |
| Incentive Max | Multifamily: up to $12,125 Individual homes: up to $24,250 |
| Website | Visit here |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | 100% of value added by renewable system |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SRECs) Registration Program |
| Incentive Amount | Determined by the market. In June 2016, SREC traded at an average price of $229.90. |
| Incentive Max | Maximum price set by the SACP for the particular year. |
| Website | Visit here |
| More Info | Click here |
| Name | PSE&G - Solar Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Successor Solar Incentive (SuSI) Program |
| Incentive Amount | Net-Metered Residential: $90/SREC-II Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities Net Metered Non-Residential Ground Mount Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities Community Solar LMI: $90/SREC-II Community Solar Non-LMI: $70/SREC-II |
| Incentive Max | MW-DC Capacity Blocks Net Metered Residential: 150 MW Net Metered Non-Residential: 150 MW Community Solar (LMI and Non-LMI): 150 MW |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Energy Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| More Info | Click here |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you'd like to get plays a role in which installer you should choose, since different companies have access to different panels.
- Installation Process: When making the switch to solar, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the completion timeline.
Best Regional Coverage
Momentum Solar
4.5
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
4.5
- 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 Bayonne, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Bayonne?
The average cost of solar panels in Bayonne is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Bayonne?
You can't get solar panels for free in Bayonne. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $775.85 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 install 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.
