Solar Panel Cost Guide in Berkeley, NJ (2024 Update)
- Berkeley Solar Installation Cost: $10,964
- 25-Year Savings: $8,311
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Berkeley
Find out what the average cost of solar panels are in Berkeley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Berkeley, the average cost of a solar system is 4 per watt.The average solar panel system size in Berkeley is around 4.4 kilowatts, meaning a cost of about $10,964 for a solar installation, or $15,679 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Berkeley homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Berkeley see about $14,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in Berkeley for a customized quote.
Solar savings over time in Berkeley
| Year | Return on Investment |
|---|---|
| 1 years | $-9,843 |
| 3 years | $-7,599 |
| 5 years | $-5,355 |
| 7 years | $-3,111 |
| 9 years | $-867 |
| 11 years | $1,377 |
| 13 years | $3,620 |
| 15 years | $5,864 |
| 17 years | $8,108 |
| 19 years | $10,352 |
| 21 years | $12,596 |
| 23 years | $14,839 |
| 25 years | $17,083 |
Top Solar Installers in Berkeley
Do-it-yourself 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. Hiring a solar company can make your switch to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Berkeley, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Berkeley
Factors that Affect Solar Panel Costs in Berkeley
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Berkeley: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar 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, you can expect your total to increase by around $3,530. The model of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies in Berkeley, and each can charge different amounts for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $3.67 | $15,419 | $7,452 | 16.9 years |
| 8 kW | $3.60 | $20,163 | $10,332 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,409 | 16.2 years |
| 12 kW | $3.46 | $29,059 | $16,684 | 15.9 years |
| 14 kW | $3.39 | $33,210 | $20,156 | 15.6 years |
| 16 kW | $3.32 | $37,164 | $23,827 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $27,695 | 14.9 years |
| 20 kW | $3.18 | $44,478 | $31,760 | 14.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- 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 the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: If you care about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Berkeley, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Berkeley?
The average cost of solar panels in Berkeley is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Berkeley?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 financial benefits from going solar.
How will solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Berkeley is currently $433,768, so you can expect a value of about $17,784 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Berkeley is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.