Solar Panel Cost Guide in Bloomfield, NJ (Oct 2022)

  • Bloomfield Solar Installation Cost: $9,171
  • 25-Year Savings: $8,679
  • Payback Period: 12.8 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Bloomfield

Find out what the average cost of a solar system is in Bloomfield.

The national average cost of solar panels is $2.66 per watt, but in Bloomfield it's $3 per watt. The average Bloomfield homeowner needs a 4.7-kilowatt system, which would cost about $9,171, or $6,787 after the federal solar tax credit of 30% is applied.

How much you pay can go above or below the average in Bloomfield based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, 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 Bloomfield for a quote for your home.

Solar savings over time in Bloomfield

Year Return on Investment
1 years $-8,457
3 years $-7,029
5 years $-5,601
7 years $-4,173
9 years $-2,745
11 years $-1,317
13 years $111
15 years $1,539
17 years $2,967
19 years $4,395
21 years $5,823
23 years $7,251
25 years $8,679

Top Solar Installers in Bloomfield

Trying to install solar panels by yourself can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you pick which one will be right for you.

You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Bloomfield:

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 Bloomfield

Factors that Affect Solar Panel Costs in Bloomfield

There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment Size

The size of the solar energy system you need for your household is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar installers in Bloomfield offer solar loans, which reduce your upfront costs of installing a solar system. 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

The solar company you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating in Bloomfield, and each can charge varying amounts for labor and equipment. Additionally, some companies in Bloomfield know more about local solar incentives and can help you make good use 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 $2.88 $12,099 $10,536 13.4 years
8 kW $2.83 $15,822 $14,358 13.1 years
10 kW $2.77 $19,390 $18,335 12.8 years
12 kW $2.71 $22,803 $22,468 12.6 years
14 kW $2.66 $26,060 $26,755 12.3 years
16 kW $2.60 $29,163 $31,198 12.1 years
18 kW $2.55 $32,110 $35,795 11.8 years
20 kW $2.49 $34,902 $40,548 11.6 years

Solar Incentives in Bloomfield

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of 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 positive reviews from previous customers.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
  • Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.

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 Bloomfield, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Bloomfield?

This is a hard 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 other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Can you get solar panels for free in Bloomfield?

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

Does Bloomfield have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.

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

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

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us