Solar Panel Cost Guide in Bernardsville, NJ (2023 Update)
- Bernardsville Solar Installation Cost: $9,191
- 25-Year Savings: $6,993
- Payback Period: 14.2 Years
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Updated May 04, 2023
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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 2.77 per watt. Using this figure, a typical 4.7-kW system 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 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 Bernardsville
Factors that Affect Solar Panel Costs in Bernardsville
While the average cost of a solar system 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can increase or decrease your cost 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 in the long run on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Bernardsville average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Bernardsville, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you pick will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $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
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Bernardsville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Bernardsville?
This is a tough question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Bernardsville?
Leasing solar panels can be an appealing choice, because it often 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 tax rebates and credits 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 it worth going solar in Bernardsville?
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 long do solar panels last in Bernardsville?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.