Solar Panel Cost Guide in Denville, NJ (Mar 2023)
- Denville Solar Installation Cost: $9,268
- 25-Year Savings: $7,440
- Payback Period: 13.9 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Denville
Find out what the average cost of solar panels are in Denville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Denville, the typical cost of a solar system is 2.77 per watt. The average solar panel system size in Denville is around 4.8 kilowatts, meaning a cost of about $9,268 for a solar installation, or $13,253 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar system you want, your solar contractor and more. Even with the high initial cost, the average Denville homeowner can save around $13,000 on their power bills over 20 years, which is one of the perks of solar.
To receive a free quote from a top solar installation company in Denville, you can click the button below.
Solar savings over time in Denville
| Year | Return on Investment |
|---|---|
| 1 years | $-8,600 |
| 3 years | $-7,263 |
| 5 years | $-5,927 |
| 7 years | $-4,590 |
| 9 years | $-3,253 |
| 11 years | $-1,917 |
| 13 years | $-580 |
| 15 years | $757 |
| 17 years | $2,093 |
| 19 years | $3,430 |
| 21 years | $4,767 |
| 23 years | $6,103 |
| 25 years | $7,440 |
Top Solar Installers in Denville
Many homeowners choose to hire a solar panel installer since trying to put up solar panels by yourself can be challenging. Some solar installers, particularly local ones, can help you take advantage of incentives in Denville, optimizing your ROI.
There are a number of 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
Tesla Energy
- 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 Denville
Factors that Affect Solar Panel Costs in Denville
There are several criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
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 of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Denville homeowners decide to finance their solar panel systems to offset upfront costs. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower 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 considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater 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 lower 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 opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though 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 take a look at their list of offerings before making your decision.
- Contract: Before signing a contract with a solar company, be 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.
- 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 previous customers and solar experts like the EcoWatch team.
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
Tesla Energy
- 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 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 actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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.