Solar Panel Cost Guide in Cranford, NJ (2023 Update)
- Cranford Solar Installation Cost: $9,046
- 25-Year Savings: $7,971
- Payback Period: 13.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cranford
We go over average solar pricing in Cranford.
In Cranford, solar panels cost about 2.77 per watt on average. The average Cranford 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.
These figures are just estimates, and how much solar costs for you will differ based on factors unique to your home and what company you choose to go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Cranford for a quote for your home.
Solar savings over time in Cranford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,990 |
| 3 years | $-8,876 |
| 5 years | $-8,763 |
| 7 years | $-8,649 |
| 9 years | $-8,536 |
| 11 years | $-8,422 |
| 13 years | $-8,309 |
| 15 years | $-8,196 |
| 17 years | $-8,082 |
| 19 years | $-7,969 |
| 21 years | $-7,855 |
| 23 years | $-7,742 |
| 25 years | $-7,628 |
Top Solar Installers in Cranford
When going solar, many homeowners opt to hire a solar installer since DIY solar panel installation can be a difficult project. Plus, if you're not certain what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our suggestions for providers in Cranford:
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 Cranford
Factors that Affect Solar Panel Costs in Cranford
The cost of installing a solar system in Cranford can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems 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 raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of solar equipment you choose can increase or decrease your cost 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 in the long run on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Cranford average.
Solar Financing Terms
Most solar companies in Cranford offer solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also increases your overall costs, so it's crucial to include that in your estimate 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
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Cranford is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Cranford have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $9,785 | 13.8 years |
| 8 kW | $2.83 | $15,822 | $13,357 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $17,084 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,967 | 13.0 years |
| 14 kW | $2.66 | $26,060 | $25,004 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $29,196 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,544 | 12.2 years |
| 20 kW | $2.49 | $34,902 | $38,047 | 12.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Though 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 how part repairs and replacements will be handled.
- Reputation: Make sure your solar system 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 EcoWatch.
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
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 Cranford, NJ Solar Cost FAQs
How much does it cost to install solar panels in Cranford?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Cranford?
You can't get solar panels for free in Cranford. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Cranford?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Cranford?
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 the amount of 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 continue to use 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.