Solar Panel Cost Guide in Cedar Grove, NJ (Mar 2023)
- Cedar Grove Solar Installation Cost: $9,171
- 25-Year Savings: $8,679
- Payback Period: 12.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cedar Grove
Here's how much it might cost to install solar panels in Cedar Grove.
The national average cost of solar panels is $2.66 per watt, but in Cedar Grove it's 2.77 per watt. Using this figure, a typical 4.7-kW system would cost about $9,171 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Cedar Grove based on several factors, such as the type of solar panels you choose and the solar contractor you hire. Even with the high upfront cost, the average Cedar Grove homeowner can save about $14,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Cedar Grove
| 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 Cedar Grove
When switching to solar energy, many homeowners decide to hire a solar installation company since DIY solar panel installation can be a challenging project. Companies can also have access to quality options of the best solar panels and help you pick which one will be best for your family.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Cedar Grove
Factors that Affect Solar Panel Costs in Cedar Grove
For many Cedar Grove homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Cedar Grove, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Cedar Grove. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Cedar Grove average.
Solar Financing Terms
Many homeowners find the average cost of solar in Cedar Grove to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. It's a good idea to factor 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 the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence how much you pay. Cedar Grove's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more 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 lower 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 | $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 |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a high 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.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Different companies carry various brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Cedar Grove, NJ Solar Cost FAQs
How much does it cost to install solar panels in Cedar Grove?
The average cost of solar panels in Cedar Grove 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 consume.
Should I lease or buy solar panels in Cedar Grove?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on electricity bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Cedar Grove, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.