Solar Panel Cost Guide in Cranford, NJ (2024 Update)
- Cranford Solar Installation Cost: $11,528
- 25-Year Savings: $7,971
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Cranford
Let’s have a look at the average cost of solar in Cranford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cranford, the average cost of solar panels is 4 per watt.The average solar panel system size in Cranford is around 4.7 kilowatts, meaning a cost of about $11,528 for a solar installation, or $16,485 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what company you go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Cranford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,288 |
| 3 years | $-7,806 |
| 5 years | $-5,324 |
| 7 years | $-2,843 |
| 9 years | $-361 |
| 11 years | $2,120 |
| 13 years | $4,602 |
| 15 years | $7,083 |
| 17 years | $9,565 |
| 19 years | $12,046 |
| 21 years | $14,528 |
| 23 years | $17,010 |
| 25 years | $19,491 |
Top Solar Installers in Cranford
Trying to put up solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Cranford
Factors that Affect Solar Panel Costs in Cranford
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Cranford: 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 few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production 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.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Cranford, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Cranford, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $6,466 | 17.6 years |
| 8 kW | $3.60 | $20,163 | $9,016 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,764 | 16.9 years |
| 12 kW | $3.46 | $29,059 | $14,710 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,854 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,195 | 15.9 years |
| 18 kW | $3.25 | $40,920 | $24,734 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,471 | 15.2 years |
How to Save on Solar Panels
There are many companies to choose from in Cranford, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Cranford, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cranford?
The average cost of solar panels in Cranford 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Cranford?
Solar panels aren’t free in Cranford, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Cranford have a net metering program?
Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy 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?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had 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.