Solar Panel Cost Guide in Green Knoll, NJ (2023 Update)
- Green Knoll Solar Installation Cost: $9,182
- 25-Year Savings: $7,835
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Green Knoll
Let's take a look at the average cost of solar panels in Green Knoll.
The average cost of solar panels in Green Knoll is 2.77 per watt. Because a 4.7-kW system is needed to cover the energy consumption of a typical home in Green Knoll, the average price of going solar will be about $9,191 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
To get a free estimate from a top solar installation company in Green Knoll, you can click the button below.
Solar savings over time in Green Knoll
| Year | Return on Investment |
|---|---|
| 1 years | $-8,123 |
| 3 years | $-6,004 |
| 5 years | $-3,886 |
| 7 years | $-1,768 |
| 9 years | $351 |
| 11 years | $2,469 |
| 13 years | $4,588 |
| 15 years | $6,706 |
| 17 years | $8,824 |
| 19 years | $10,943 |
| 21 years | $13,061 |
| 23 years | $15,180 |
| 25 years | $17,298 |
Top Solar Installers in Green Knoll
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make swapping over to solar power much easier. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Knoll
Factors that Affect Solar Panel Costs in Green Knoll
There are many criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of a solar system in Green Knoll, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Green Knoll to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence how much you pay. Green Knoll's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also fits 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 | $9,462 | 14.0 years |
| 8 kW | $2.83 | $15,822 | $12,926 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,545 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,320 | 13.2 years |
| 14 kW | $2.66 | $26,060 | $24,250 | 12.9 years |
| 16 kW | $2.60 | $29,163 | $28,334 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,574 | 12.4 years |
| 20 kW | $2.49 | $34,902 | $36,969 | 12.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
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 Knoll, NJ Solar Cost FAQs
How much does it cost to install solar panels in Green Knoll?
This is a tough question to answer precisely, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Green Knoll?
You can't get solar panels for free in Green Knoll. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Green Knoll?
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 higher 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.