Solar Panel Cost Guide in Closter, NJ (Mar 2023)
- Closter Solar Installation Cost: $9,055
- 25-Year Savings: $9,053
- Payback Period: 12.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Closter
See how much it might cost to switch to solar power in Closter.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Closter, the typical cost of solar panels is 2.77 per watt. The average Closter homeowner needs a 4.7-kilowatt system, which would cost about $9,055 with the federal tax credit, or $12,949 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. With average savings of about $15,000 on electricity bills over 20 years, many homeowners in Closter find going solar has a decent ROI.
Click the button below to get connected to a top solar installer in Closter for a personalized quote.
Solar savings over time in Closter
| Year | Return on Investment |
|---|---|
| 1 years | $-8,331 |
| 3 years | $-6,882 |
| 5 years | $-5,434 |
| 7 years | $-3,985 |
| 9 years | $-2,536 |
| 11 years | $-1,088 |
| 13 years | $361 |
| 15 years | $1,810 |
| 17 years | $3,258 |
| 19 years | $4,707 |
| 21 years | $6,155 |
| 23 years | $7,604 |
| 25 years | $9,053 |
Top Solar Installers in Closter
Many homeowners choose to hire a solar panel company since figuring out how to install solar panels yourself can be hard. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you're looking for a solar installer in Closter, the EcoWatch team has put together 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
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 Closter
Factors that Affect Solar Panel Costs in Closter
Even though the average cost of a solar system in Closter is $9,055, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Closter, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Closter, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $11,187 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,227 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,421 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,771 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,275 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,935 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,750 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,720 | 11.2 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 choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The kind of solar panel you want to install plays a role in which company you should go with, since different companies have different panels.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
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 Closter, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Closter?
This is a hard question to answer precisely, because the cost depends on many 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Closter?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Closter have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation 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.
What solar power system size is right for my home?
To figure out how many solar panels 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 generally 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.