Solar Panel Cost Guide in Edgewater, NJ (2024 Update)
- Edgewater Solar Installation Cost: $11,529
- 25-Year Savings: $8,804
- Payback Period: 16.1 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Edgewater
Let’s take a look at the average cost of solar panels in Edgewater.
The average cost of a solar panel system in Edgewater is 4 per watt.To cover the typical energy needs of the average home in Edgewater, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $11,529, or $16,486 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Edgewater homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing a solar system is a solid investment. The average homeowner in Edgewater can save around $15,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Edgewater
Year | Return on Investment |
---|---|
1 years | $-10,106 |
3 years | $-7,262 |
5 years | $-4,417 |
7 years | $-1,572 |
9 years | $1,273 |
11 years | $4,117 |
13 years | $6,962 |
15 years | $9,807 |
17 years | $12,652 |
19 years | $15,496 |
21 years | $18,341 |
23 years | $21,186 |
25 years | $24,031 |
Top Solar Installers in Edgewater
Many homeowners choose to use a solar installation company since trying to install solar panels yourself can be a labor-intensive endeavor. Another advantage of utilizing a solar company is that they can help you optimize your investment by reducing your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Edgewater
Factors that Affect Solar Panel Costs in Edgewater
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Edgewater: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
One of the most significant 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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,530 per kilowatt in Edgewater.There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher 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
If paying for solar panels out of pocket is too expensive, solar loans are a popular route because they decrease your upfront costs and let you pay for your system over five to seven years on average.Even though solar loans make going solar more accessible for Edgewater homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $7,537 | 16.8 years |
8 kW | $3.60 | $20,163 | $10,444 | 16.5 years |
10 kW | $3.53 | $24,710 | $13,550 | 16.1 years |
12 kW | $3.46 | $29,059 | $16,853 | 15.8 years |
14 kW | $3.39 | $33,210 | $20,353 | 15.5 years |
16 kW | $3.32 | $37,164 | $24,051 | 15.2 years |
18 kW | $3.25 | $40,920 | $27,947 | 14.9 years |
20 kW | $3.18 | $44,478 | $32,041 | 14.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Before you sign a contract with a solar company, be sure to look it over fully 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.
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 Edgewater, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Edgewater?
The average cost of solar panels in Edgewater is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for 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."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 buy between 20 and 35 panels to cover 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.