Solar Panel Cost Guide in Edgewater Park, NJ (2024 Update)
- Edgewater Park Solar Installation Cost: $11,389
- 25-Year Savings: $8,913
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Edgewater Park
Find out what the average cost of solar panels are in Edgewater Park.
The average cost of a solar panel system in Edgewater Park is 4 per watt.Using this figure, a typical 4.6-kW system would cost about $11,389 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Edgewater Park depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Edgewater Park can save about $15,000 on their energy bills over 20 years.
To get a free estimate from a highly rated solar installer in Edgewater Park, you can click the button below.
Solar savings over time in Edgewater Park
| Year | Return on Investment |
|---|---|
| 1 years | $-9,967 |
| 3 years | $-7,122 |
| 5 years | $-4,278 |
| 7 years | $-1,433 |
| 9 years | $1,412 |
| 11 years | $4,257 |
| 13 years | $7,101 |
| 15 years | $9,946 |
| 17 years | $12,791 |
| 19 years | $15,636 |
| 21 years | $18,480 |
| 23 years | $21,325 |
| 25 years | $24,170 |
Top Solar Installers in Edgewater Park
When making the switch to solar, many homeowners choose to go with a solar installation company since putting up solar panels yourself can be a difficult project. Solar warranties and repairs are typically included in the cost of installation when you hire a solar contractor too, which can save you more money over time.
If you're looking for a solar company in Edgewater Park, the EcoWatch team has compiled a list of our top suggestions here:
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 Park
Factors that Affect Solar Panel Costs in Edgewater Park
For many Edgewater Park homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Edgewater Park, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Edgewater Park average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Edgewater Park homeowners decide 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 more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount 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 | $3.67 | $15,419 | $7,817 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,819 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $14,017 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,414 | 15.6 years |
| 14 kW | $3.39 | $33,210 | $21,008 | 15.3 years |
| 16 kW | $3.32 | $37,164 | $24,800 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,790 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,977 | 14.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Edgewater Park, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business 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 Edgewater Park, NJ Solar Cost FAQs
How much does it cost to install solar panels in Edgewater Park?
This is a difficult question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Edgewater Park?
Solar panels can be a beneficial investment for a majority of 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.