Solar Panel Cost Guide in Buena, NJ (2023 Update)
- Buena Solar Installation Cost: $8,687
- 25-Year Savings: $14,787
- Payback Period: 9.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Buena
We go over average solar pricing in Buena.
While the national average of solar panels is $2.66 per watt, solar panels in Buena generally cost around 2.77. The average solar panel system size in Buena is around 4.5 kilowatts, meaning a cost of about $8,687 for a solar installation, or $12,422 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Buena homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $20,000 on energy bills over 20 years, many homeowners in Buena find investing in solar has a decent ROI.
To receive a free quote from a vetted solar company in Buena, you can click the button below.
Solar savings over time in Buena
| Year | Return on Investment |
|---|---|
| 1 years | $-7,748 |
| 3 years | $-5,870 |
| 5 years | $-3,992 |
| 7 years | $-2,114 |
| 9 years | $-236 |
| 11 years | $1,642 |
| 13 years | $3,520 |
| 15 years | $5,397 |
| 17 years | $7,275 |
| 19 years | $9,153 |
| 21 years | $11,031 |
| 23 years | $12,909 |
| 25 years | $14,787 |
Top Solar Installers in Buena
When making the switch to solar, many homeowners decide to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. In addition, if you'd like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Buena
Factors that Affect Solar Panel Costs in Buena
There are a number of factors that can influence your solar panel 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
When it comes to estimating the cost of a solar system in Buena, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of 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 looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular route because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
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 installation companies operating in Buena, and each can charge varying amounts for labor and equipment. Additionally, some companies in Buena have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $19,354 | 9.6 years |
| 8 kW | $2.83 | $15,822 | $26,116 | 9.4 years |
| 10 kW | $2.77 | $19,390 | $33,032 | 9.2 years |
| 12 kW | $2.71 | $22,803 | $40,104 | 9.1 years |
| 14 kW | $2.66 | $26,060 | $47,331 | 8.9 years |
| 16 kW | $2.60 | $29,163 | $54,713 | 8.7 years |
| 18 kW | $2.55 | $32,110 | $62,251 | 8.5 years |
| 20 kW | $2.49 | $34,902 | $69,943 | 8.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
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 Buena, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Buena?
The average cost of solar panels in Buena 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Buena?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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 option if you want to get the most savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Buena?
Although 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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.