Solar Panel Cost Guide in Cresskill, NJ (Aug 2022)
- Cresskill Solar Installation Cost: $9,573
- 25-Year Savings: $8,432
- Payback Period: 13.3 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Cresskill
Let's have a look at the average cost of solar in Cresskill.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cresskill, the typical cost of a solar system is $3 per watt. To account for the typical energy needs of the average home in Cresskill, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,573, or $7,084 after the federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Cresskill depending on several factors, such as the brand of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Cresskill that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cresskill
| Year | Return on Investment |
|---|---|
| 1 years | $-8,852 |
| 3 years | $-7,412 |
| 5 years | $-5,972 |
| 7 years | $-4,531 |
| 9 years | $-3,091 |
| 11 years | $-1,650 |
| 13 years | $-210 |
| 15 years | $1,230 |
| 17 years | $2,671 |
| 19 years | $4,111 |
| 21 years | $5,551 |
| 23 years | $6,992 |
| 25 years | $8,432 |
Top Solar Installers in Cresskill
When switching to solar energy, many homeowners prefer to use a solar company since handling can be a challenging project. The expertise that solar companies offer can be invaluable as well, especially if you don't quite know what kind of solar equipment you need.
You can work with a local solar installer to get a free quote on how much your investment in solar 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 Technology
The Green Panel
- 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 Cresskill
Factors that Affect Solar Panel Costs in Cresskill
For many Cresskill homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Cresskill, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment Size
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. Solar power systems that have greater efficiency or power generation require 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. There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose 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
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. Although solar loans make going solar more accessible for Cresskill homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect the cost. Cresskill's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,364 | 13.8 years |
| 8 kW | $2.83 | $16,726 | $14,146 | 13.5 years |
| 10 kW | $2.77 | $20,498 | $18,092 | 13.3 years |
| 12 kW | $2.71 | $24,106 | $22,203 | 13.0 years |
| 14 kW | $2.66 | $27,549 | $26,477 | 12.7 years |
| 16 kW | $2.60 | $30,829 | $30,916 | 12.5 years |
| 18 kW | $2.55 | $33,945 | $35,518 | 12.2 years |
| 20 kW | $2.49 | $36,896 | $40,285 | 12.0 years |
Solar Incentives in Cresskill
| 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
Since the kind of solar panels and the installer you choose have an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which company you should go with, since different companies offer different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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
The Green Panel
- 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 Cresskill, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cresskill?
This is a tough question to answer exactly, because the cost depends on a variety of 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 more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Cresskill?
A solar panel system isn't free in Cresskill, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Cresskill?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.
