Solar Panel Cost Guide in Cranford, NJ (Aug 2022)

  • Cranford Solar Installation Cost: $9,573
  • 25-Year Savings: $7,444
  • Payback Period: 14.0 Years

See cost of a solar system near you:

GET QUOTES
EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Cranford

Let's have a look at the average cost of solar in Cranford.

The national average cost of solar panels is $2.66 per watt, but in Cranford it's $3 per watt. The average solar panel system size in Cranford is around 4.7 kilowatts, meaning a cost of about $9,573 for a solar installation, or $7,084 after the federal solar tax credit is applied.

Keep in mind that the figures above are only estimates based on the average Cranford homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on power bills.

Click the button below to get connected to a vetted solar installer in Cranford for a custom estimate.

Solar savings over time in Cranford

Year Return on Investment
1 years $-8,892
3 years $-7,531
5 years $-6,169
7 years $-4,808
9 years $-3,446
11 years $-2,085
13 years $-724
15 years $638
17 years $1,999
19 years $3,360
21 years $4,722
23 years $6,083
25 years $7,444

Top Solar Installers in Cranford

Trying to put up solar panels yourself can be a dangerous project, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.

Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Cranford

Factors that Affect Solar Panel Costs in Cranford

For many Cranford homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Cranford, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The size of the system you need is one of the largest factors that determines the overall cost of going solar. Because of that, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Cranford average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Cranford, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to add 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

The final major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Cranford, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 $12,791 $9,094 14.6 years
8 kW $2.83 $16,726 $12,453 14.3 years
10 kW $2.77 $20,498 $15,976 14.0 years
12 kW $2.71 $24,106 $19,663 13.8 years
14 kW $2.66 $27,549 $23,515 13.5 years
16 kW $2.60 $30,829 $27,530 13.2 years
18 kW $2.55 $33,945 $31,709 12.9 years
20 kW $2.49 $36,896 $36,052 12.6 years

Solar Incentives in Cranford

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:

  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
  • Reputation: Long-running companies 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 quality aftercare and customer service, such as part repairs and replacements.
  • Installation Process: Make sure you're aligned with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Cranford, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Cranford?

This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 extra 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 expensive solar panels.

What other factors should I consider aside from cost when buying solar panels?

Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Cranford?

Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces 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 long do solar panels last in Cranford?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.

solar panel and sunny sky
Invest in clean solar energy, save thousands of dollars.

Save $$ on your electricity bill by getting a free quote today.

Follow us