Solar Panel Cost Guide in Bogota, NJ (Feb 2023)
- Bogota Solar Installation Cost: $9,055
- 25-Year Savings: $8,795
- Payback Period: 12.7 Years
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Top Solar Installers in Bogota
Trying to put up solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
See all of the solar companies in Bogota
Factors that Affect Solar Panel Costs in Bogota
There are several factors that can determine your solar system 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.
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Bogota. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a 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 a small roof 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Bogota, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to 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 interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Bogota, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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||$10,856||13.2 years|
|8 kW||$2.83||$15,822||$14,785||12.9 years|
|10 kW||$2.77||$19,390||$18,870||12.7 years|
|12 kW||$2.71||$22,803||$23,109||12.4 years|
|14 kW||$2.66||$26,060||$27,503||12.2 years|
|16 kW||$2.60||$29,163||$32,053||11.9 years|
|18 kW||$2.55||$32,110||$36,757||11.7 years|
|20 kW||$2.49||$34,902||$41,617||11.4 years|
How to Save on Solar Panels
There are a lot of companies to choose from in Bogota, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which installer you should go with, since different companies have access to different panels.
EcoWatch's Bogota, NJ Solar Cost FAQs
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.