Solar Panel Cost Guide in Garwood, NJ (Oct 2022)

  • Garwood Solar Installation Cost: $9,055
  • 25-Year Savings: $8,795
  • Payback Period: 12.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Garwood

See how much it might cost to go solar in Garwood.

In Garwood, solar panels cost about $3 per watt on average. Because a 4.7-kW system is needed to cover the energy needs of a typical home in Garwood, the average price of going solar will be about $9,055 before claiming the federal solar tax credit of 30%.

Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more. Many homeowners find going solar is a solid investment. The average homeowner in Garwood can save about $15,000 on their electricity bills over 20 years.

You can click the button below to get connected with a pre-vetted solar installer in Garwood that can help you get a more accurate cost estimate for your home.

Solar savings over time in Garwood

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 Garwood

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of an installer can make your swap to solar power much easier. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.

Working with a vetted solar company can help you make the most of your investment in solar. 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 Garwood

Factors that Affect Solar Panel Costs in Garwood

Though the average cost of solar panels in Garwood is $9,055, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.

Solar Equipment Size

When it comes to estimating the cost of a solar panel system in Garwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Garwood, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. Although solar loans make adopting solar energy more accessible for Garwood homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Garwood, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Garwood are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.

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

Solar Incentives in Garwood

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

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

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Reputation: Well-established companies likely have a high 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.
  • Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Warranty: If you're concerned about the longevity of your solar energy system, verifying your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.

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 Garwood, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Garwood?

This is a tough question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Garwood?

Solar panels aren't free in Garwood, 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 help lower the cost.

Does Garwood have a net metering program?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having 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.

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