Solar Panel Cost Guide in Berkeley Heights, NJ (2024 Update)
- Berkeley Heights Solar Installation Cost: $11,528
- 25-Year Savings: $7,971
- Payback Period: 16.9 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Berkeley Heights
Let’s have a look at the average cost of solar panels in Berkeley Heights.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Berkeley Heights, the typical cost of a solar system is 4 per watt.Because a 4.7-kW system is needed to cover the energy costs of a typical home in Berkeley Heights, the average price of going solar will be about $11,528 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.But, after you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar installer in Berkeley Heights for a quote for your home.
Solar savings over time in Berkeley Heights
Year | Return on Investment |
---|---|
1 years | $-10,469 |
3 years | $-8,351 |
5 years | $-6,232 |
7 years | $-4,114 |
9 years | $-1,996 |
11 years | $123 |
13 years | $2,241 |
15 years | $4,360 |
17 years | $6,478 |
19 years | $8,596 |
21 years | $10,715 |
23 years | $12,833 |
25 years | $14,952 |
Top Solar Installers in Berkeley Heights
Although it's possible to install solar panels by yourself, it involves extra time and expertise. Because of that, most homeowners choose to hire a solar panel installer. Another perk of utilizing a solar company is that they can help you make the most of your return of investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Heights
Factors that Affect Solar Panel Costs in Berkeley Heights
There are a number of factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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, more efficient panels could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Berkeley Heights average.
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 Berkeley Heights homeowners opt to finance their solar panel systems to make going solar more affordable.Even though solar loans make switching to solar energy more accessible for Berkeley Heights homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Berkeley Heights have more knowledge about local solar incentives and can help you take advantage 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 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 | $3.67 | $15,419 | $6,466 | 17.6 years |
8 kW | $3.60 | $20,163 | $9,016 | 17.3 years |
10 kW | $3.53 | $24,710 | $11,764 | 16.9 years |
12 kW | $3.46 | $29,059 | $14,710 | 16.6 years |
14 kW | $3.39 | $33,210 | $17,854 | 16.3 years |
16 kW | $3.32 | $37,164 | $21,195 | 15.9 years |
18 kW | $3.25 | $40,920 | $24,734 | 15.6 years |
20 kW | $3.18 | $44,478 | $28,471 | 15.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Heights, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Berkeley Heights?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Berkeley Heights?
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 can’t take advantage of 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 bang for your buck from going solar.
How will installing solar panels impact my home value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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.