Solar Panel Cost Guide in Cedar Grove, NJ (2023 Update)
- Cedar Grove Solar Installation Cost: $9,175
- 25-Year Savings: $8,676
- Payback Period: 12.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Cedar Grove
See how much it might cost to go solar in Cedar Grove.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cedar Grove, the typical cost of a solar system is 2.77 per watt. Since a 4.7-kW system is needed to cover the energy costs of a typical home in Cedar Grove, the average price of going solar will be about $9,171 after claiming the federal solar tax credit of 30%.
These figures are only averages, and your own solar costs will differ based on your energy needs and what company you go with. For many homeowners, the upfront investment in solar power is worth paying. On average Cedar Grove homeowners see about $14,000 in savings on electricity bills over 20 years.
To receive a free quote from a pre-vetted solar company in Cedar Grove, you can click the button below.
Solar savings over time in Cedar Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-9,115 |
| 3 years | $-8,996 |
| 5 years | $-8,877 |
| 7 years | $-8,758 |
| 9 years | $-8,639 |
| 11 years | $-8,520 |
| 13 years | $-8,401 |
| 15 years | $-8,282 |
| 17 years | $-8,163 |
| 19 years | $-8,044 |
| 21 years | $-7,925 |
| 23 years | $-7,806 |
| 25 years | $-7,687 |
Top Solar Installers in Cedar Grove
Trying to install solar panels by yourself can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're searching for a solar installer in Cedar Grove, we've organized a list of our top suggestions here:
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 Cedar Grove
Factors that Affect Solar Panel Costs in Cedar Grove
The cost of installing a solar system in Cedar Grove 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.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the key 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 increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cedar Grove is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. 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 pricing because of 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 promotion can bring their pricing down to compete with bigger companies.
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 solar company you go with will influence 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 some important things you should keep in mind, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Cedar Grove, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cedar Grove?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Cedar Grove?
A solar panel system isn't free in Cedar Grove, 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 can further reduce the cost.
Can you sell solar power back to the grid in Cedar Grove?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.