Solar Panel Cost Guide in Bedminster, NJ (2023 Update)
- Bedminster Solar Installation Cost: $9,182
- 25-Year Savings: $7,002
- Payback Period: 14.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bedminster
Find out what the average cost of solar panels are in Bedminster.
In Bedminster, solar panels cost about 2.77 per watt on average. Since a 4.7-kW system is needed to cover the energy usage of a typical home in Bedminster, the average price of going solar will be about $9,191 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you choose to go with. Despite the high upfront cost, the average Bedminster homeowner can save around $13,000 on their power bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar company in Bedminster that can help you get a more accurate cost estimate for your home.
Solar savings over time in Bedminster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,123 |
| 3 years | $-6,004 |
| 5 years | $-3,886 |
| 7 years | $-1,768 |
| 9 years | $351 |
| 11 years | $2,469 |
| 13 years | $4,588 |
| 15 years | $6,706 |
| 17 years | $8,824 |
| 19 years | $10,943 |
| 21 years | $13,061 |
| 23 years | $15,180 |
| 25 years | $17,298 |
Top Solar Installers in Bedminster
Many homeowners decide to hire a solar installation company since figuring out how to install solar panels on your own can be time-consuming. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
If you're on the hunt for a solar company in Bedminster, the EcoWatch team has put together 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 Bedminster
Factors that Affect Solar Panel Costs in Bedminster
For many Bedminster homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Bedminster, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Bedminster, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Bedminster average.
Solar Financing Terms
Most solar installers in Bedminster offer solar loans, which reduce the initial cost of installing solar panels. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $8,406 | 14.8 years |
| 8 kW | $2.83 | $15,822 | $11,518 | 14.5 years |
| 10 kW | $2.77 | $19,390 | $14,786 | 14.2 years |
| 12 kW | $2.71 | $22,803 | $18,208 | 13.9 years |
| 14 kW | $2.66 | $26,060 | $21,786 | 13.6 years |
| 16 kW | $2.60 | $29,163 | $25,519 | 13.3 years |
| 18 kW | $2.55 | $32,110 | $29,406 | 13.0 years |
| 20 kW | $2.49 | $34,902 | $33,449 | 12.8 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 decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a quality company.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Bedminster, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Bedminster?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Bedminster, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.