Solar Panel Cost Guide in Fair Lawn, NJ (2023 Update)
- Fair Lawn Solar Installation Cost: $9,055
- 25-Year Savings: $8,795
- Payback Period: 12.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fair Lawn
Find out what the average cost of a solar system is in Fair Lawn.
In Fair Lawn, solar panels cost about 2.77 per watt on average. Using this figure, a typical 4.7-kW system would cost about $9,055 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of equipment you want, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is typically 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 highly rated solar company in your area for a personalized estimate.
Solar savings over time in Fair Lawn
| Year | Return on Investment |
|---|---|
| 1 years | $-8,341 |
| 3 years | $-6,913 |
| 5 years | $-5,485 |
| 7 years | $-4,057 |
| 9 years | $-2,629 |
| 11 years | $-1,201 |
| 13 years | $227 |
| 15 years | $1,655 |
| 17 years | $3,083 |
| 19 years | $4,511 |
| 21 years | $5,939 |
| 23 years | $7,367 |
| 25 years | $8,795 |
Top Solar Installers in Fair Lawn
Although it's possible to install solar panels yourself, it requires extra labor and know-how. That's one of the reasons most homeowners choose a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Fair Lawn
Factors that Affect Solar Panel Costs in Fair Lawn
Though the average cost of a solar system in Fair Lawn is $9,055, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
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 $2,770 per kilowatt in Fair Lawn. 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 get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Fair Lawn average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Fair Lawn, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can influence the cost. Fair Lawn's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better 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 down to compete with bigger names.
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 | $10,856 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,785 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,870 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,109 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,503 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,053 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,757 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,617 | 11.4 years |
How to Save on Solar Panels
The solar company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will have various 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: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Fair Lawn, NJ Solar Cost FAQs
How much does it cost to install solar panels in Fair Lawn?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Fair Lawn?
Solar panels aren't free in Fair Lawn, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 amount of 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 get 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.