Solar Panel Cost Guide in Golden Triangle, NJ (2024 Update)
- Golden Triangle Solar Installation Cost: $11,511
- 25-Year Savings: $8,818
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Golden Triangle
We go over average solar pricing in Golden Triangle.
The average cost of a solar system in Golden Triangle is 4 per watt.Since a 4.7-kW system is needed to cover the energy usage of a typical home in Golden Triangle, the average price of going solar will be about $11,511 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar panels you want to get, your solar contractor and more.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Golden Triangle can save about $15,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in Golden Triangle for a customized quote.
Solar savings over time in Golden Triangle
| Year | Return on Investment |
|---|---|
| 1 years | $-10,088 |
| 3 years | $-7,244 |
| 5 years | $-4,399 |
| 7 years | $-1,554 |
| 9 years | $1,291 |
| 11 years | $4,135 |
| 13 years | $6,980 |
| 15 years | $9,825 |
| 17 years | $12,670 |
| 19 years | $15,514 |
| 21 years | $18,359 |
| 23 years | $21,204 |
| 25 years | $24,049 |
Top Solar Installers in Golden Triangle
When making the switch to solar, many homeowners decide to hire a solar company since DIY solar panel installation can be a time-consuming project. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you're looking for a solar company 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
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 is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Golden Triangle, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the amount of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a part in determining your pricing. Golden Triangle’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $7,573 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,492 | 16.4 years |
| 10 kW | $3.53 | $24,710 | $13,609 | 16.1 years |
| 12 kW | $3.46 | $29,059 | $16,924 | 15.8 years |
| 14 kW | $3.39 | $33,210 | $20,437 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $24,147 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $28,055 | 14.8 years |
| 20 kW | $3.18 | $44,478 | $32,161 | 14.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- 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.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Golden Triangle, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Golden Triangle?
This is a tough question to answer precisely, because the cost depends on a few different 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Golden Triangle?
A solar panel system isn’t free in Golden Triangle, 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 further reduce the cost.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Golden Triangle is currently $386,549, which means you could be looking at a value of about $15,849 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Golden Triangle is a fruitful investment.
How long do solar panels last in Golden Triangle?
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 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.