Solar Panel Cost Guide in Budd Lake, NJ (Feb 2023)
- Budd Lake Solar Installation Cost: $9,268
- 25-Year Savings: $6,915
- Payback Period: 14.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Budd Lake
Many homeowners opt for a solar installation company since trying to install solar panels yourself can be challenging. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Budd Lake:
See all of the solar companies in Budd Lake
Factors that Affect Solar Panel Costs in Budd Lake
The cost of installing a solar system in Budd Lake can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Budd Lake provide solar loans, which reduce your upfront costs of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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||$8,221||14.9 years|
|8 kW||$2.83||$15,822||$11,271||14.6 years|
|10 kW||$2.77||$19,390||$14,477||14.3 years|
|12 kW||$2.71||$22,803||$17,838||14.0 years|
|14 kW||$2.66||$26,060||$21,354||13.7 years|
|16 kW||$2.60||$29,163||$25,025||13.5 years|
|18 kW||$2.55||$32,110||$28,851||13.2 years|
|20 kW||$2.49||$34,902||$32,832||12.9 years|
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: Review the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
EcoWatch's Budd Lake, 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.