Solar Panel Cost Guide in Bedminster, NJ (Oct 2022)
- Bedminster Solar Installation Cost: $9,191
- 25-Year Savings: $6,993
- Payback Period: 14.2 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Bedminster
Let's take a look at the average cost of solar in Bedminster.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bedminster, the typical cost of solar panels is $3 per watt. Because 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 before claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $13,000 over 20 years on energy bills.
To get a free estimate from a highly rated solar installation company in Bedminster, you can click the button below.
Solar savings over time in Bedminster
| Year | Return on Investment |
|---|---|
| 1 years | $-8,544 |
| 3 years | $-7,249 |
| 5 years | $-5,954 |
| 7 years | $-4,659 |
| 9 years | $-3,365 |
| 11 years | $-2,070 |
| 13 years | $-775 |
| 15 years | $519 |
| 17 years | $1,814 |
| 19 years | $3,109 |
| 21 years | $4,403 |
| 23 years | $5,698 |
| 25 years | $6,993 |
Top Solar Installers in Bedminster
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make switching to solar power much easier. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Bedminster
Factors that Affect Solar Panel Costs in Bedminster
The cost of installing a solar system in Bedminster 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 company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size. Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Bedminster to be too costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. 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 original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Bedminster have more knowledge about local solar incentives and can help you make good use of 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 | $12,099 | $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 pick the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 Bedminster, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Bedminster?
This is a difficult question to answer exactly, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Bedminster?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is switching to solar power worth it?
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 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 goes down 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.
