Solar Panel Cost Guide in Greentree, NJ (2024 Update)

  • Greentree Solar Installation Cost: $11,511
  • 25-Year Savings: $10,455
  • Payback Period: 14.8 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Greentree

Here’s how much it might cost to make the switch to solar in Greentree.

The national average cost of solar panels is $2.66 per watt, but in Greentree it’s 4 per watt.Since a 4.7-kW system is needed to cover the energy needs of a typical home in Greentree, the average price of going solar will be about $11,511 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Greentree homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar system is a sound investment. The average homeowner in Greentree can save around $16,000 on their power bills over 20 years.

You can click the button below to get connected with a top solar installer in Greentree that can help you get a more accurate cost estimate for your home.

Solar savings over time in Greentree

Year Return on Investment
1 years $-10,050
3 years $-7,130
5 years $-4,209
7 years $-1,289
9 years $1,632
11 years $4,552
13 years $7,473
15 years $10,394
17 years $13,314
19 years $16,235
21 years $19,155
23 years $22,076
25 years $24,996

Top Solar Installers in Greentree

When making the switch to solar, many homeowners decide to go with a solar installer since putting up a solar system yourself can be a challenging project. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what brand of solar equipment you need.

If you’d like to go solar but still aren’t sure which solar company to go with, here are our suggestions for providers in Greentree:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Greentree

Factors that Affect Solar Panel Costs in Greentree

For many Greentree homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Greentree, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the price of a solar energy system in Greentree, 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 energy bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Greentree, 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

If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they lower your upfront costs and let you pay for your system over five to seven years on average.Although solar loans make adopting solar energy more accessible for Greentree homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final consideration when trying to estimate the cost of solar for your home or business in Greentree is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.

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 $9,681 15.4 years
8 kW $3.60 $20,163 $13,303 15.1 years
10 kW $3.53 $24,710 $17,123 14.8 years
12 kW $3.46 $29,059 $21,141 14.5 years
14 kW $3.39 $33,210 $25,356 14.2 years
16 kW $3.32 $37,164 $29,769 13.9 years
18 kW $3.25 $40,920 $34,380 13.6 years
20 kW $3.18 $44,478 $39,188 13.3 years

How to Save on Solar Panels

There are a large number of companies available in Greentree, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:

  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and how long it will take.
  • Solar Panel Brands: The type of solar panel you need to get plays a part in which installer you should choose, since different companies offer different panels.
  • Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Greentree, NJ Solar Cost FAQs

How much does it cost to install solar panels in Greentree?

This is a difficult question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

What other factors should I consider aside from cost when buying solar panels?

Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Do solar panels increase the value of your home?

Solar panels can increase your home value 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% after installing a solar system."

How often do you have to replace solar panels?

Although 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.

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