Solar Panel Cost Guide in Bernardsville, NJ (Sep 2022)

  • Bernardsville Solar Installation Cost: $9,191
  • 25-Year Savings: $6,993
  • Payback Period: 14.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Bernardsville

Let's take a look at the average cost of solar panels in Bernardsville.

The average cost of a solar panel system in Bernardsville is $3 per watt. Using this figure, a typical 4.7 would cost about $9,191 before the 30% federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you choose, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in Bernardsville can save around $13,000 on their electricity bills over 20 years.

You can click the button below to get connected with a vetted solar installer in Bernardsville that can help you get a more accurate cost estimate for your home.

Solar savings over time in Bernardsville

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 Bernardsville

Installing solar panels on your own can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you take advantage of incentives in Bernardsville, thereby optimizing your ROI.

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 nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
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 Bernardsville

Factors that Affect Solar Panel Costs in Bernardsville

While the average cost of solar panels in Bernardsville is $9,191, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.

Solar Equipment Size

Size is one of the largest factors that determines the overall cost of going solar. That's why it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Bernardsville homeowners decide to finance their solar panel systems to offset upfront costs. While solar loans make switching to solar energy more accessible for Bernardsville homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Bernardsville, and each can charge varying amounts for labor and equipment. Additionally, some companies in Bernardsville know more about local solar incentives and can help you take advantage 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

Solar Incentives in Bernardsville

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 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 company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:

  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which model 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.
  • Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
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 Bernardsville, NJ Solar Cost FAQs

How much does it cost to install solar panels in Bernardsville?

The average cost of solar panels in Bernardsville 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Bernardsville?

A solar panel system isn't free in Bernardsville, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Is going solar worth it?

Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy needs 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.

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