Solar Panel Cost Guide in Finderne, NJ (Aug 2022)
- Finderne Solar Installation Cost: $9,716
- 25-Year Savings: $7,301
- Payback Period: 14.3 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Finderne
We break down average solar pricing in Finderne.
The national average cost of solar panels is $2.66 per watt, but in Finderne it's $3 per watt. Using this figure, a typical 4.7 would cost about $9,716 before the federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Finderne homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Finderne can save around $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Finderne for a quote for your home.
Solar savings over time in Finderne
| Year | Return on Investment |
|---|---|
| 1 years | $-9,035 |
| 3 years | $-7,674 |
| 5 years | $-6,313 |
| 7 years | $-4,951 |
| 9 years | $-3,590 |
| 11 years | $-2,229 |
| 13 years | $-867 |
| 15 years | $494 |
| 17 years | $1,856 |
| 19 years | $3,217 |
| 21 years | $4,578 |
| 23 years | $5,940 |
| 25 years | $7,301 |
Top Solar Installers in Finderne
Although it's possible to install solar panels yourself, it takes extra effort and handiness. That's why almost all homeowners choose a solar panel installer. Another benefit of utilizing a solar installer is that they can help you maximize your investment by bringing down your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Finderne
Factors that Affect Solar Panel Costs in Finderne
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Finderne: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment Size
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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Finderne. There are a lot of different solar panel brands and the one you pick also changes the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Finderne offer solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also adds to your overall costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can play a role in determining how much it costs. Finderne's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.88 | $12,791 | $8,771 | 14.8 years |
| 8 kW | $2.83 | $16,726 | $12,022 | 14.5 years |
| 10 kW | $2.77 | $20,498 | $15,437 | 14.3 years |
| 12 kW | $2.71 | $24,106 | $19,017 | 14.0 years |
| 14 kW | $2.66 | $27,549 | $22,760 | 13.7 years |
| 16 kW | $2.60 | $30,829 | $26,668 | 13.4 years |
| 18 kW | $2.55 | $33,945 | $30,739 | 13.1 years |
| 20 kW | $2.49 | $36,896 | $34,975 | 12.8 years |
Solar Incentives in Finderne
| 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
Since the kind of solar panels and the installer you choose considerably influence your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
The Green Panel
- 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 Finderne, NJ Solar Cost FAQs
How much does it cost to install solar panels in Finderne?
The average cost of solar panels in Finderne is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
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 Finderne is currently $484,200, which means you could be looking at a value of about $19,852 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Finderne is a worthwhile investment.
How long do solar panels last in Finderne?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.
