Solar Panel Cost Guide in Fairview, NJ (Aug 2022)

  • Fairview Solar Installation Cost: $9,573
  • 25-Year Savings: $8,278
  • Payback Period: 13.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Fairview

Find out how much it might cost to go solar in Fairview.

In Fairview, solar panels cost about $3 per watt on average. To cover the typical energy usage of the average home in Fairview, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,573, or $7,084 after the federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with. Despite the high initial cost, the average Fairview homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the positives of solar.

To calculate your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Fairview

Year Return on Investment
1 years $-8,859
3 years $-7,431
5 years $-6,002
7 years $-4,574
9 years $-3,146
11 years $-1,718
13 years $-290
15 years $1,138
17 years $2,566
19 years $3,994
21 years $5,422
23 years $6,850
25 years $8,278

Top Solar Installers in Fairview

Putting up solar panels by yourself can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to a large variety of the best solar panels and help you decide which one will be best for your home.

Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:

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 Fairview

Factors that Affect Solar Panel Costs in Fairview

There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size. Solar power systems that have higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Fairview, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Most solar companies in Fairview have solar loans, which reduce your upfront costs of installing solar. Although solar loans make adopting solar energy more accessible for Fairview homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Fairview is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. The company's size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have 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 lower 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 $12,791 $10,165 13.9 years
8 kW $2.83 $16,726 $13,881 13.7 years
10 kW $2.77 $20,498 $17,762 13.4 years
12 kW $2.71 $24,106 $21,806 13.1 years
14 kW $2.66 $27,549 $26,014 12.9 years
16 kW $2.60 $30,829 $30,386 12.6 years
18 kW $2.55 $33,945 $34,923 12.3 years
20 kW $2.49 $36,896 $39,623 12.1 years

Solar Incentives in Fairview

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

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

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
  • Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
  • Installation Process: When going solar, it's important to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the completion timeline.

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 Fairview, NJ Solar Cost FAQs

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

This is a hard question to answer exactly, 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Fairview?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

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

Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Fairview?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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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