Solar Panel Cost Guide in Glen Ridge, NJ (2025 Update)
- Glen Ridge Solar Installation Cost: $11,692
- 25-Year Savings: $8,676
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Glen Ridge
Here’s how much it might cost to go solar in Glen Ridge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Glen Ridge, the typical cost of a solar system is 4 per watt.The average Glen Ridge homeowner needs a 4.7-kilowatt system, which would cost about $11,692 with the federal tax credit, or $16,720 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will look different based on your specific situation and what company you want to go with.Despite the high upfront cost, the average Glen Ridge homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Glen Ridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Glen Ridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,270 |
| 3 years | $-7,425 |
| 5 years | $-4,580 |
| 7 years | $-1,735 |
| 9 years | $1,109 |
| 11 years | $3,954 |
| 13 years | $6,799 |
| 15 years | $9,644 |
| 17 years | $12,488 |
| 19 years | $15,333 |
| 21 years | $18,178 |
| 23 years | $21,022 |
| 25 years | $23,867 |
Top Solar Installers in Glen Ridge
Many homeowners decide to hire a solar installer since installing solar panels yourself can be challenging. Another perk of using a solar company is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Glen Ridge
Factors that Affect Solar Panel Costs in Glen Ridge
The cost of installing a solar system in Glen Ridge can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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, higher efficiency could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Glen Ridge average.
Solar Financing Terms
Many homeowners find the average cost of solar in Glen Ridge to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.You’ll have to consider the long-term cost of loans, including the total 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Glen Ridge is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.The company’s size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $7,216 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $10,017 | 16.7 years |
| 10 kW | $3.53 | $24,710 | $13,015 | 16.4 years |
| 12 kW | $3.46 | $29,059 | $16,211 | 16.0 years |
| 14 kW | $3.39 | $33,210 | $19,605 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,196 | 15.4 years |
| 18 kW | $3.25 | $40,920 | $26,985 | 15.1 years |
| 20 kW | $3.18 | $44,478 | $30,972 | 14.7 years |
How to Save on Solar Panels
There are a lot of companies available in Glen Ridge, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Warranty: If you’re concerned about the longevity of your solar panels, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
EcoWatch's Glen Ridge, NJ Solar Cost FAQs
How much does it cost to install solar panels in Glen Ridge?
This is a tough 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Glen Ridge?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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.
Is going solar worth it?
Solar panels can be a beneficial 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 electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.