Solar Panel Cost Guide in Green, NJ (2023 Update)
- Green Solar Installation Cost: $9,327
- 25-Year Savings: $6,857
- Payback Period: 14.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Green
We break down average solar pricing in Green.
The average cost of a solar panel system in Green is 2.77 per watt. Using this figure, a typical 4.8-kW system would cost about $9,327 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Green based on several factors, such as the model of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Green see about $13,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Green
| Year | Return on Investment |
|---|---|
| 1 years | $-8,679 |
| 3 years | $-7,385 |
| 5 years | $-6,090 |
| 7 years | $-4,795 |
| 9 years | $-3,500 |
| 11 years | $-2,206 |
| 13 years | $-911 |
| 15 years | $384 |
| 17 years | $1,678 |
| 19 years | $2,973 |
| 21 years | $4,268 |
| 23 years | $5,562 |
| 25 years | $6,857 |
Top Solar Installers in Green
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar company can make converting to solar power much easier. Some solar installers, particularly local ones, can help you take advantage of incentives in Green, optimizing your ROI.
If you're on the hunt for a solar installer in Green, the EcoWatch team has 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 Green
Factors that Affect Solar Panel Costs in Green
The cost of installing a solar system in Green 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 the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Green, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose 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
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Green homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Green, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, 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 | $2.88 | $12,099 | $8,108 | 15.0 years |
| 8 kW | $2.83 | $15,822 | $11,121 | 14.7 years |
| 10 kW | $2.77 | $19,390 | $14,289 | 14.4 years |
| 12 kW | $2.71 | $22,803 | $17,612 | 14.1 years |
| 14 kW | $2.66 | $26,060 | $21,090 | 13.8 years |
| 16 kW | $2.60 | $29,163 | $24,723 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,512 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,455 | 13.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Green, NJ Solar Cost FAQs
How much does it cost to install solar panels in Green?
The average cost of solar panels in Green 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 like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Green, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.