Solar Panel Cost Guide in Elizabeth, NJ (2024 Update)

  • Elizabeth Solar Installation Cost: $11,528
  • 25-Year Savings: $8,804
  • Payback Period: 16.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Elizabeth

Find out how much it might cost to switch to solar power in Elizabeth.

In Elizabeth, solar panels cost about 4 per watt on average.Using this figure, a typical 4.7-kW system would cost about $11,528 before the 0 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 may look quite different based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Despite the significant initial cost, the average Elizabeth homeowner can save about $15,000 on their energy bills over 20 years, which is one of the advantages of solar.

You can click the button below to get connected with a top solar company in Elizabeth for a quote for your home.

Solar savings over time in Elizabeth

Year Return on Investment
1 years $-10,106
3 years $-7,261
5 years $-4,417
7 years $-1,572
9 years $1,273
11 years $4,118
13 years $6,962
15 years $9,807
17 years $12,652
19 years $15,497
21 years $18,341
23 years $21,186
25 years $24,031

Top Solar Installers in Elizabeth

Trying to put up solar panels yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Another advantage of going with a solar company is that they can help you optimize your ROI by reducing your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.

If you’d like to go solar but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Elizabeth:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Elizabeth

Factors that Affect Solar Panel Costs in Elizabeth

Cost is often one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Elizabeth: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar energy system in Elizabeth, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 increase 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 Elizabeth homeowners decide to finance their solar panel systems to make paying for 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 on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar panel installer you choose will play a role in your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

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 $10,445 16.5 years
10 kW $3.53 $24,710 $13,550 16.1 years
12 kW $3.46 $29,059 $16,854 15.8 years
14 kW $3.39 $33,210 $20,354 15.5 years
16 kW $3.32 $37,164 $24,053 15.2 years
18 kW $3.25 $40,920 $27,949 14.9 years
20 kW $3.18 $44,478 $32,043 14.5 years

How to Save on Solar Panels

There are a lot of companies available in Elizabeth, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:

  • Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
  • Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
  • Solar Panel Brands: Different companies will offer various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
  • Contract: Before signing a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Elizabeth, NJ Solar Cost FAQs

How much does it cost to install solar panels in Elizabeth?

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 other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.

What other factors should I consider other than cost when buying solar panels?

The initial 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 take into account are the quality and durability of your solar panels.

Can you sell solar power back to the grid in Elizabeth?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.

What solar power system size is right for my home?

To figure out what solar panel system size 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.

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