Solar Panel Cost Guide in Glen Ridge, NJ (2024 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.
The national average cost of solar panels is $2.66 per watt, but in Glen Ridge it’s 4 per watt.Since a 4.7-kW system is needed to cover the energy needs of a typical home in Glen Ridge, the average price of going solar will be about $11,692 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Glen Ridge find going solar can be quite rewarding.
To see your potential savings and connect with a local solar expert, click the button below.
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
Although it's possible to install solar panels on your own, it takes extra time and handiness. That's why most homeowners choose a solar panel installer. Another upside of using a solar company is that they can help you maximize your ROI by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Glen Ridge
Factors that Affect Solar Panel Costs in Glen Ridge
For many Glen Ridge homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Glen Ridge, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Glen Ridge, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,530 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Glen Ridge, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Glen Ridge, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence how much it costs. Glen Ridge’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
The solar panel company you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Installation Process: When making the switch to solar energy, it’s crucial to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project timeline.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will offer 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.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Glen Ridge, NJ Solar Cost FAQs
How much does it cost to install solar panels in Glen Ridge?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally 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 more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Glen Ridge?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Glen Ridge?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.
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.