Solar Panel Cost Guide in Florham Park, NJ (2025 Update)
- Florham Park Solar Installation Cost: $11,808
- 25-Year Savings: $11,987
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Florham Park
Find out what the average cost of solar panel installation is in Florham Park.
The average cost of solar panels in Florham Park is 4 per watt.The average Florham Park homeowner needs a 4.8-kilowatt system, which would cost about $11,808 with the federal tax credit, or $16,885 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Florham Park homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Florham Park can save about $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a customized quote.
Solar savings over time in Florham Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Florham Park
When making the switch to solar, many homeowners choose to hire a solar installer since putting up solar panels yourself can be a difficult project. The payback period of solar panels will vary based on factors like your location and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
See all of the solar companies in Florham Park
Factors that Affect Solar Panel Costs in Florham Park
Even though the average cost of a solar system in Florham Park is $11,808, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Florham Park.The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Florham Park to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.Though solar loans make switching to solar energy more accessible for Florham Park homeowners, they can also add to the total you pay for your system due to interest. 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 evaluate the cost of solar for your home or business in Florham Park is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $3.67 | $15,419 | $11,266 | 14.4 years |
| 8 kW | $3.60 | $20,163 | $15,416 | 14.2 years |
| 10 kW | $3.53 | $24,710 | $19,765 | 13.9 years |
| 12 kW | $3.46 | $29,059 | $24,310 | 13.6 years |
| 14 kW | $3.39 | $33,210 | $29,054 | 13.3 years |
| 16 kW | $3.32 | $37,164 | $33,995 | 13.1 years |
| 18 kW | $3.25 | $40,920 | $39,134 | 12.8 years |
| 20 kW | $3.18 | $44,478 | $44,471 | 12.5 years |
How to Save on Solar Panels
The solar panel company you choose will affect 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 take into account, such as:
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
EcoWatch's Florham Park, NJ Solar Cost FAQs
How much does it cost to install solar panels in Florham Park?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Florham Park?
Solar panels aren’t free in Florham Park, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is going solar worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.