Solar Panel Cost Guide in Englewood Cliffs, NJ (Oct 2022)

  • Englewood Cliffs Solar Installation Cost: $9,055
  • 25-Year Savings: $8,950
  • Payback Period: 12.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Englewood Cliffs

Let's have a look at the average cost of solar in Englewood Cliffs.

In Englewood Cliffs, solar panels cost about $3 per watt on average. The average Englewood Cliffs homeowner needs a 4.7-kilowatt system, which would cost about $9,055, or $6,701 after the federal solar tax credit of 30% is applied.

Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar system you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on power bills.

Click the button below to get connected to a top solar installer in your area for a personalized quote.

Solar savings over time in Englewood Cliffs

Year Return on Investment
1 years $-8,335
3 years $-6,895
5 years $-5,454
7 years $-4,014
9 years $-2,573
11 years $-1,133
13 years $307
15 years $1,748
17 years $3,188
19 years $4,628
21 years $6,069
23 years $7,509
25 years $8,950

Top Solar Installers in Englewood Cliffs

When making the switch to solar, many homeowners choose to hire a solar installation company since handling can be a challenging project. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.

If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our recommendations for providers near you:

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Englewood Cliffs

Factors that Affect Solar Panel Costs in Englewood Cliffs

Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Englewood Cliffs: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment Size

One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Englewood Cliffs. The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Englewood Cliffs, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make going solar more accessible for Englewood Cliffs homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Englewood Cliffs is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, you'll have many options for solar installers that offer a range of services at different price points. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $2.88 $12,099 $11,055 13.1 years
8 kW $2.83 $15,822 $15,050 12.8 years
10 kW $2.77 $19,390 $19,200 12.6 years
12 kW $2.71 $22,803 $23,506 12.3 years
14 kW $2.66 $26,060 $27,967 12.1 years
16 kW $2.60 $29,163 $32,582 11.8 years
18 kW $2.55 $32,110 $37,353 11.6 years
20 kW $2.49 $34,902 $42,279 11.3 years

Solar Incentives in Englewood Cliffs

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The solar panel company you opt for will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:

  • Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
  • Warranty: If you're concerned about the durability of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
  • Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Englewood Cliffs, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Englewood Cliffs?

This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

What other factors should I consider in addition to 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 why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

How will having solar panels impact my property value?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Englewood Cliffs is currently $991,000, which means you could be looking at a value of about $40,631 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Englewood Cliffs is a rewarding investment.

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 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.

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