Solar Panel Cost Guide in Denville, NJ (2023 Update)
- Denville Solar Installation Cost: $9,266
- 25-Year Savings: $7,443
- Payback Period: 13.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Denville
Find out what the average cost of a solar system is in Denville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Denville, the typical cost of solar panels is 2.77 per watt. The average Denville homeowner needs a 4.8-kilowatt system, which would cost about $9,268 with the federal tax credit, or $13,253 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Denville homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
To receive a free estimate from a highly rated solar installer in Denville, you can click the button below.
Solar savings over time in Denville
| Year | Return on Investment |
|---|---|
| 1 years | $-9,210 |
| 3 years | $-9,099 |
| 5 years | $-8,987 |
| 7 years | $-8,876 |
| 9 years | $-8,764 |
| 11 years | $-8,653 |
| 13 years | $-8,542 |
| 15 years | $-8,430 |
| 17 years | $-8,319 |
| 19 years | $-8,208 |
| 21 years | $-8,096 |
| 23 years | $-7,985 |
| 25 years | $-7,873 |
Top Solar Installers in Denville
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. Also, if you'd like to maximize your investment in solar energy, using a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
There are various licensed solar professionals that can help you install your solar panels. 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
See all of the solar companies in Denville
Factors that Affect Solar Panel Costs in Denville
For many Denville homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Denville, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Denville. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Denville homeowners opt to finance their solar panel systems to make going solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $8,880 | 14.4 years |
| 8 kW | $2.83 | $15,822 | $12,150 | 14.1 years |
| 10 kW | $2.77 | $19,390 | $15,575 | 13.9 years |
| 12 kW | $2.71 | $22,803 | $19,155 | 13.6 years |
| 14 kW | $2.66 | $26,060 | $22,891 | 13.3 years |
| 16 kW | $2.60 | $29,163 | $26,781 | 13.0 years |
| 18 kW | $2.55 | $32,110 | $30,827 | 12.8 years |
| 20 kW | $2.49 | $34,902 | $35,028 | 12.5 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Denville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Denville?
The average cost of solar panels in Denville 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How will having solar panels impact my property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them once you've had 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.