Solar Panel Cost Guide in Greentree, NJ (2023 Update)
- Greentree Solar Installation Cost: $9,036
- 25-Year Savings: $10,452
- Payback Period: 11.6 Years
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Updated May 04, 2023
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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 2.77 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 $12,921 before 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 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 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Greentree, NJ Solar Cost FAQs
How much does it cost to install solar panels in Greentree?
The average cost of solar panels in Greentree is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greentree is currently $298,664, which means you can expect a value of about $12,245 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 often do you have to replace solar panels?
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 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.