Solar Panel Cost Guide in Crestwood Village, NJ (Aug 2022)
- Crestwood Village Solar Installation Cost: $9,101
- 25-Year Savings: $10,371
- Payback Period: 11.7 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Crestwood Village
We break down average solar pricing in Crestwood Village.
The national average cost of solar panels is $2.66 per watt, but in Crestwood Village it's $3 per watt. To account for the typical energy usage of the average home in Crestwood Village, most homeowners require a 4.4-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,101, or $6,735 after the federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Crestwood Village depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar power is worth paying. On average Crestwood Village homeowners see about $17,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Crestwood Village
| Year | Return on Investment |
|---|---|
| 1 years | $-8,322 |
| 3 years | $-6,764 |
| 5 years | $-5,207 |
| 7 years | $-3,649 |
| 9 years | $-2,091 |
| 11 years | $-533 |
| 13 years | $1,024 |
| 15 years | $2,582 |
| 17 years | $4,140 |
| 19 years | $5,698 |
| 21 years | $7,256 |
| 23 years | $8,813 |
| 25 years | $10,371 |
Top Solar Installers in Crestwood Village
Many homeowners opt for a solar installation company since installing solar panels yourself can be a lot of work. The expertise that solar companies provide can be helpful as well, especially if you aren't sure what type of solar equipment you need.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Crestwood Village
Factors that Affect Solar Panel Costs in Crestwood Village
For many Crestwood Village homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Crestwood Village, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment Size
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Crestwood Village. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Crestwood Village provide solar loans, which reduce your upfront costs of installing solar. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can play a part in determining your pricing. Crestwood Village's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Crestwood Village 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 walking you through the whole process. 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 | $12,791 | $13,539 | 12.1 years |
| 8 kW | $2.83 | $16,726 | $18,380 | 11.9 years |
| 10 kW | $2.77 | $20,498 | $23,385 | 11.7 years |
| 12 kW | $2.71 | $24,106 | $28,554 | 11.4 years |
| 14 kW | $2.66 | $27,549 | $33,887 | 11.2 years |
| 16 kW | $2.60 | $30,829 | $39,384 | 11.0 years |
| 18 kW | $2.55 | $33,945 | $45,045 | 10.7 years |
| 20 kW | $2.49 | $36,896 | $50,870 | 10.5 years |
Solar Incentives in Crestwood Village
| 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 | 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 company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: It's important to read your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Different companies have different brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed 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 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 Crestwood Village, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Crestwood Village?
The average cost of solar panels in Crestwood Village is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Crestwood Village?
You can't get solar panels for free in Crestwood Village. However, you may still be able to afford 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.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Crestwood Village, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 after having 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.
