Solar Panel Cost Guide in Cranbury, NJ (2024 Update)
- Cranbury Solar Installation Cost: $11,564
- 25-Year Savings: $7,943
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Cranbury
Find out what the average cost of installing solar panels is in Cranbury.
In Cranbury, solar panels cost about 4 per watt on average.The average Cranbury homeowner needs a 4.7-kilowatt system, which would cost about $11,564 with the federal tax credit, or $16,537 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Cranbury 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.Even with the significant upfront cost, the average Cranbury homeowner can save around $14,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Cranbury
| Year | Return on Investment |
|---|---|
| 1 years | $-10,505 |
| 3 years | $-8,387 |
| 5 years | $-6,268 |
| 7 years | $-4,150 |
| 9 years | $-2,031 |
| 11 years | $87 |
| 13 years | $2,205 |
| 15 years | $4,324 |
| 17 years | $6,442 |
| 19 years | $8,561 |
| 21 years | $10,679 |
| 23 years | $12,797 |
| 25 years | $14,916 |
Top Solar Installers in Cranbury
Although you can install solar panels by yourself, it takes extra time and know-how. Because of that, the majority of homeowners choose to hire a solar panel installer. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're searching for a solar installer in Cranbury, we've organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Cranbury
Factors that Affect Solar Panel Costs in Cranbury
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Cranbury: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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 $3,530.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Cranbury provide solar loans, which reduce your upfront costs of installing solar panels.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only 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 finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk 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 | $3.67 | $15,419 | $6,398 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,926 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,651 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,575 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,696 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,014 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,530 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,245 | 15.3 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose greatly influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. 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 be sure to take a look at their list of options before making your decision.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Cranbury, NJ Solar Cost FAQs
How much does it cost to install solar panels in Cranbury?
The average cost of solar panels in Cranbury is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cranbury?
You can’t get solar panels for free in Cranbury. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $727.23 per year.
How long do solar panels last in Cranbury?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.