Solar Panel Cost Guide in East Greenwich, NJ (2024 Update)
- East Greenwich Solar Installation Cost: $11,485
- 25-Year Savings: $12,112
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in East Greenwich
Here’s how much it might cost to install solar panels in East Greenwich.
While the national average of solar panels is $2.66 per watt, solar panels in East Greenwich typically cost about 4.Using this figure, a typical 4.6-kW system would cost about $11,485 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of East Greenwich homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in East Greenwich can save around $17,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in East Greenwich that can help you get a more accurate cost estimate for your home.
Solar savings over time in East Greenwich
| Year | Return on Investment |
|---|---|
| 1 years | $-9,987 |
| 3 years | $-6,990 |
| 5 years | $-3,994 |
| 7 years | $-998 |
| 9 years | $1,999 |
| 11 years | $4,995 |
| 13 years | $7,992 |
| 15 years | $10,988 |
| 17 years | $13,984 |
| 19 years | $16,981 |
| 21 years | $19,977 |
| 23 years | $22,973 |
| 25 years | $25,970 |
Top Solar Installers in East Greenwich
Although you can install solar panels by yourself, it involves extra time and handiness. For that reason, almost all homeowners choose to go with a solar panel installer. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in East Greenwich
Factors that Affect Solar Panel Costs in East Greenwich
The cost of installing a solar system in East Greenwich can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production 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 $3,530.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the East Greenwich average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.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 more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies operating in East Greenwich, and each can charge different amounts for labor and equipment.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $11,850 | 14.1 years |
| 8 kW | $3.60 | $20,163 | $16,195 | 13.9 years |
| 10 kW | $3.53 | $24,710 | $20,739 | 13.6 years |
| 12 kW | $3.46 | $29,059 | $25,479 | 13.3 years |
| 14 kW | $3.39 | $33,210 | $30,418 | 13.0 years |
| 16 kW | $3.32 | $37,164 | $35,554 | 12.8 years |
| 18 kW | $3.25 | $40,920 | $40,888 | 12.5 years |
| 20 kW | $3.18 | $44,478 | $46,419 | 12.2 years |
How to Save on Solar Panels
The solar company 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 a few important things you should keep in mind, such as:
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's East Greenwich, NJ Solar Cost FAQs
How much does it cost to install solar panels in East Greenwich?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in East Greenwich?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will having solar panels impact how much my home is worth?
Solar panels can increase your property’s value significantly 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 long do solar panels last in East Greenwich?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.