Solar Panel Cost Guide in Greentree, NJ (Dec 2022)

  • Greentree Solar Installation Cost: $9,036
  • 25-Year Savings: $10,452
  • Payback Period: 11.6 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Greentree

Find out what the average cost of solar panel installation is in Greentree.

The average cost of a solar panel system in Greentree is $3 per watt. To cover the typical energy usage of the average home in Greentree, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,036, or $6,687 after the federal solar tax credit of 30% is applied.

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

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Greentree

Year Return on Investment
1 years $-8,256
3 years $-6,697
5 years $-5,138
7 years $-3,579
9 years $-2,020
11 years $-461
13 years $1,098
15 years $2,657
17 years $4,216
19 years $5,775
21 years $7,334
23 years $8,893
25 years $10,452

Top Solar Installers in Greentree

Trying to install solar panels by yourself can be a difficult task, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.

Working with a professional solar company can make going solar easier. Here are our recommendations:

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Greentree

Factors that Affect Solar Panel Costs in Greentree

There are a number of criteria that can influence 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

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Greentree. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher 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

Most solar companies in Greentree have solar loans, which reduce your upfront costs of installing solar panels. Although solar loans make going solar more accessible for Greentree homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The remaining significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Greentree, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.

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 $13,000 12.1 years
8 kW $2.83 $15,822 $17,644 11.8 years
10 kW $2.77 $19,390 $22,443 11.6 years
12 kW $2.71 $22,803 $27,397 11.4 years
14 kW $2.66 $26,060 $32,506 11.1 years
16 kW $2.60 $29,163 $37,770 10.9 years
18 kW $2.55 $32,110 $43,190 10.7 years
20 kW $2.49 $34,902 $48,764 10.4 years

How to Save on Solar Panels

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

  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which type 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 peruse their list of offerings before deciding.
  • Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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 Greentree, NJ Solar Cost FAQs

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

This is a hard question to answer exactly, 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Should I lease or buy solar panels in Greentree?

Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.

Can solar panels eliminate my electricity bills?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Greentree, 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 amount 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.

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