Solar Panel Cost Guide in Green Brook, NJ (2023 Update)
- Green Brook Solar Installation Cost: $9,182
- 25-Year Savings: $8,113
- Payback Period: 13.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Green Brook
Find out what the average cost of solar panel installation is in Green Brook.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Green Brook, the average cost of a solar system is 2.77 per watt. The average solar panel system size in Green Brook is around 4.7 kilowatts, meaning a cost of about $9,191 for a solar installation, or $13,143 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Green Brook homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $14,000 on utility bills over 20 years, many homeowners in Green Brook find going solar has a decent ROI.
For a personalized 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 Brook
| Year | Return on Investment |
|---|---|
| 1 years | $-8,002 |
| 3 years | $-5,641 |
| 5 years | $-3,281 |
| 7 years | $-920 |
| 9 years | $1,440 |
| 11 years | $3,801 |
| 13 years | $6,161 |
| 15 years | $8,522 |
| 17 years | $10,882 |
| 19 years | $13,243 |
| 21 years | $15,603 |
| 23 years | $17,964 |
| 25 years | $20,324 |
Top Solar Installers in Green Brook
Although it's possible to install solar panels on your own, it involves extra time and know-how. Because of that, most people choose to go with a solar panel installer. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Brook
Factors that Affect Solar Panel Costs in Green Brook
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Green Brook: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels in Green Brook, 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 figure out by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Green Brook, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. Even though solar loans make adopting solar energy more accessible for Green Brook homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Green Brook, you'll have many options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $9,814 | 13.8 years |
| 8 kW | $2.83 | $15,822 | $13,395 | 13.5 years |
| 10 kW | $2.77 | $19,390 | $17,132 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $21,024 | 13.0 years |
| 14 kW | $2.66 | $26,060 | $25,071 | 12.7 years |
| 16 kW | $2.60 | $29,163 | $29,273 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,630 | 12.2 years |
| 20 kW | $2.49 | $34,902 | $38,142 | 11.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installation 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 things to keep in mind to help with your decision:
- Warranty: If you care about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before deciding.
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 Brook, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Green Brook?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Green Brook?
You can't get solar panels for free in Green Brook. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Green Brook is currently $451,312, which means you can look forward to a value of about $18,504 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Green Brook is a rewarding investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.