Solar Panel Cost Guide in Golden Triangle, NJ (2023 Update)
- Golden Triangle Solar Installation Cost: $9,032
- 25-Year Savings: $8,818
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Golden Triangle
Let's have a look at the average cost of solar in Golden Triangle.
While the national average of solar panels is $2.66 per watt, solar panels in Golden Triangle generally cost about 2.77. To account for the typical energy needs of the average home in Golden Triangle, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,036, or $12,921 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Golden Triangle can save around $15,000 on their power bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Golden Triangle
| Year | Return on Investment |
|---|---|
| 1 years | $-7,610 |
| 3 years | $-4,765 |
| 5 years | $-1,921 |
| 7 years | $924 |
| 9 years | $3,769 |
| 11 years | $6,614 |
| 13 years | $9,458 |
| 15 years | $12,303 |
| 17 years | $15,148 |
| 19 years | $17,993 |
| 21 years | $20,837 |
| 23 years | $23,682 |
| 25 years | $26,527 |
Top Solar Installers in Golden Triangle
When switching to solar energy, many homeowners choose to use a solar installer since handling can be a difficult project. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you're searching for a solar installer in Golden Triangle, we've compiled a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Golden Triangle
Factors that Affect Solar Panel Costs in Golden Triangle
The cost of installing a solar system in Golden Triangle can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Golden Triangle, 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 consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $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 many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Golden Triangle to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a role in determining your pricing. Golden Triangle's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that offers the products, warranties and services you want and also is within your budget.
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 | $10,892 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,833 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,929 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,181 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,587 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,148 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,865 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $41,737 | 11.4 years |
How to Save on Solar Panels
There are many companies available in Golden Triangle, 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:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project timeline.
- Contract: Before signing a contract with a solar company, make sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Golden Triangle, NJ Solar Cost FAQs
How much does it cost to install solar panels in Golden Triangle?
The average cost of solar panels in Golden Triangle 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?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $766.39 per year.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.