Solar Panel Cost Guide in Fanwood, NJ (Feb 2023)
- Fanwood Solar Installation Cost: $9,055
- 25-Year Savings: $8,795
- Payback Period: 12.7 Years
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Top Solar Installers in Fanwood
Many homeowners decide to use a solar installation company since trying to install solar panels by yourself can be a lot of work. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be best for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Fanwood
Factors that Affect Solar Panel Costs in Fanwood
While the average cost of a solar system in Fanwood is $9,055, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can increase or decrease your cost 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. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Fanwood average.
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 Fanwood homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Fanwood, and each can charge varying amounts for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you want and also fit into your budget.
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||$10,857||13.2 years|
|8 kW||$2.83||$15,822||$14,786||12.9 years|
|10 kW||$2.77||$19,390||$18,870||12.7 years|
|12 kW||$2.71||$22,803||$23,110||12.4 years|
|14 kW||$2.66||$26,060||$27,504||12.2 years|
|16 kW||$2.60||$29,163||$32,054||11.9 years|
|18 kW||$2.55||$32,110||$36,759||11.7 years|
|20 kW||$2.49||$34,902||$41,619||11.4 years|
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Fanwood, NJ Solar Cost FAQs
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.