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
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Average Cost of Solar Panels in Greentree
Here’s how much it might cost to make the switch to solar in Greentree.
Although the national average of solar panels is $2.66 per watt, solar panels in Greentree generally cost around 4.Since a 4.7-kW system is needed to cover the energy consumption 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 Greentree homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on utility bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
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
Many homeowners decide to use a solar panel company since figuring out how to install solar panels yourself can be hard. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your family.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Greentree
Factors that Affect Solar Panel Costs in Greentree
The cost of installing a solar system in Greentree can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel 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 around $3,530. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Greentree average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your total costs, so it’s vital to include that in your estimate as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Greentree, and each can charge varying amounts for labor and equipment.Larger national companies generally 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 additional services like electric vehicle 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 | $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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- 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 service, such as part repairs and replacements.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- 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 brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Greentree, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Greentree?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greentree is currently $374,023, which means you could be looking at a value of about $15,335 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Greentree is a fruitful investment.
How long do solar panels last in Greentree?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.