Solar Panel Cost Guide in Green Brook, NJ (Mar 2023)
- Green Brook Solar Installation Cost: $9,191
- 25-Year Savings: $8,104
- Payback Period: 13.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Green Brook
We break down average solar pricing in Green Brook.
The national average cost of solar panels is $2.66 per watt, but in Green Brook it's 2.77 per watt. To cover the typical energy usage of the average home in Green Brook, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,191, or $13,143 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 a solar energy system. The exact cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on electricity bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Green Brook
| Year | Return on Investment |
|---|---|
| 1 years | $-8,499 |
| 3 years | $-7,115 |
| 5 years | $-5,732 |
| 7 years | $-4,348 |
| 9 years | $-2,965 |
| 11 years | $-1,581 |
| 13 years | $-198 |
| 15 years | $1,186 |
| 17 years | $2,570 |
| 19 years | $3,953 |
| 21 years | $5,337 |
| 23 years | $6,720 |
| 25 years | $8,104 |
Top Solar Installers in Green Brook
When switching to solar energy, many homeowners opt to hire a solar company since installing a solar system yourself can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.
There are various licensed solar professionals that can help you install your solar panels. 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Green Brook
Factors that Affect Solar Panel Costs in Green Brook
For many Green Brook homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Green Brook, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,770. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Green Brook, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Green Brook, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. Although solar loans make switching to solar energy more accessible for Green Brook homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence the cost. Green Brook'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 go with the company that provides the products, warranties and services you're looking for 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 | $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
There are many companies available in Green Brook, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- 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.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you want a specific brand, make sure the solar panel 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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.