Solar Panel Cost Guide in Cresskill, NJ (2023 Update)
- Cresskill Solar Installation Cost: $9,055
- 25-Year Savings: $8,950
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cresskill
We break down average solar pricing in Cresskill.
The average cost of solar panels in Cresskill is 2.77 per watt. The average Cresskill 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.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in Cresskill can save around $15,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Cresskill for a quote for your home.
Solar savings over time in Cresskill
| Year | Return on Investment |
|---|---|
| 1 years | $-8,335 |
| 3 years | $-6,895 |
| 5 years | $-5,454 |
| 7 years | $-4,014 |
| 9 years | $-2,573 |
| 11 years | $-1,133 |
| 13 years | $307 |
| 15 years | $1,748 |
| 17 years | $3,188 |
| 19 years | $4,628 |
| 21 years | $6,069 |
| 23 years | $7,509 |
| 25 years | $8,950 |
Top Solar Installers in Cresskill
Although it's possible to install solar panels yourself, it involves extra time and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Also, companies with a good reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers nearby:
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 Cresskill
Factors that Affect Solar Panel Costs in Cresskill
For many Cresskill homeowners, the decision to adopt solar energy depends on 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 various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Cresskill, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Cresskill average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Cresskill, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include 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 solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Cresskill, and each can charge different amounts for labor and equipment. Additionally, some companies in Cresskill have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $11,055 | 13.1 years |
| 8 kW | $2.83 | $15,822 | $15,050 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,200 | 12.6 years |
| 12 kW | $2.71 | $22,803 | $23,506 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $27,967 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,582 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,353 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $42,279 | 11.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
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 Cresskill, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cresskill?
The average cost of solar panels in Cresskill is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cresskill?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Cresskill?
Solar panels can be a fruitful investment for most 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 fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.