Solar Panel Cost Guide in Bogota, NJ (Aug 2022)

  • Bogota Solar Installation Cost: $9,573
  • 25-Year Savings: $8,278
  • Payback Period: 13.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Bogota

We go over average solar pricing in Bogota.

In Bogota, solar panels cost about $3 per watt on average. To cover the typical energy needs of the average home in Bogota, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,573, or $7,084 after the federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary based on several factors, such as what size system you need, your energy usage and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $15,000 in savings on energy bills over 20 years.

To receive a free quote from a pre-vetted solar installer in Bogota, you can click the button below.

Solar savings over time in Bogota

Year Return on Investment
1 years $-8,859
3 years $-7,431
5 years $-6,002
7 years $-4,574
9 years $-3,146
11 years $-1,718
13 years $-290
15 years $1,138
17 years $2,566
19 years $3,994
21 years $5,422
23 years $6,850
25 years $8,278

Top Solar Installers in Bogota

Many homeowners opt for a solar installation company since trying to install solar panels on your own can be a lot of work. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your upfront investment.

There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 Bogota

Factors that Affect Solar Panel Costs in Bogota

There are several factors that can affect your total 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 Size

The size of the system you need is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you choose 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

Many homeowners find the average cost of solar in Bogota to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.

Solar Panel Installation Company

The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Bogota, and each can charge varying amounts for labor and equipment. Additionally, some companies in Bogota are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 $12,791 $10,165 13.9 years
8 kW $2.83 $16,726 $13,881 13.7 years
10 kW $2.77 $20,498 $17,762 13.4 years
12 kW $2.71 $24,106 $21,806 13.1 years
14 kW $2.66 $27,549 $26,014 12.9 years
16 kW $2.60 $30,829 $30,386 12.6 years
18 kW $2.55 $33,945 $34,923 12.3 years
20 kW $2.49 $36,896 $39,623 12.1 years

Solar Incentives in Bogota

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 PSE&G - Solar Loan Program
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 solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely have a solid reputation and are qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
  • Contract: It's important to read your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
  • Installation Process: When going solar, it's important to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the project timeline.
  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.

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 Bogota, NJ Solar Cost FAQs

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

The average cost of solar panels in Bogota is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Bogota?

A solar panel system isn't free in Bogota, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in Bogota?

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

How often do you have to replace solar panels?

Even 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 the amount of energy they produce will have decreased significantly after that point. You can decide 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.

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