Solar Panel Cost Guide in Greenwich, NJ (2025 Update)
- Greenwich Solar Installation Cost: $11,855
- 25-Year Savings: $6,881
- Payback Period: 18.3 Years
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Average Cost of Solar Panels in Greenwich
Let’s take a look at the average cost of solar in Greenwich.
The national average cost of solar panels is $2.66 per watt, but in Greenwich it’s 4 per watt.Since a 4.8-kW system is needed to cover the energy usage of a typical home in Greenwich, the average price of going solar will be about $11,855 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $13,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar installer in Greenwich for a personalized quote.
Solar savings over time in Greenwich
| Year | Return on Investment |
|---|---|
| 1 years | $-10,796 |
| 3 years | $-8,678 |
| 5 years | $-6,559 |
| 7 years | $-4,441 |
| 9 years | $-2,323 |
| 11 years | $-204 |
| 13 years | $1,914 |
| 15 years | $4,033 |
| 17 years | $6,151 |
| 19 years | $8,269 |
| 21 years | $10,388 |
| 23 years | $12,506 |
| 25 years | $14,625 |
Top Solar Installers in Greenwich
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar company can make your switch to solar power much easier. Another benefit of working with a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some nearby:
See all of the solar companies in Greenwich
Factors that Affect Solar Panel Costs in Greenwich
While the average cost of a solar system in Greenwich is $11,855, your actual cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar system you need for your household, 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 about $3,530. The brand of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can play a role in determining how much you pay. Greenwich’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger companies.
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 | $4,820 | 19.0 years |
| 8 kW | $3.60 | $20,163 | $6,822 | 18.7 years |
| 10 kW | $3.53 | $24,710 | $9,022 | 18.3 years |
| 12 kW | $3.46 | $29,059 | $11,419 | 17.9 years |
| 14 kW | $3.39 | $33,210 | $14,014 | 17.6 years |
| 16 kW | $3.32 | $37,164 | $16,807 | 17.2 years |
| 18 kW | $3.25 | $40,920 | $19,797 | 16.8 years |
| 20 kW | $3.18 | $44,478 | $22,985 | 16.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Different companies will offer various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
EcoWatch's Greenwich, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Greenwich?
This is a tough question to answer precisely, because the cost depends on a few different 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-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.
Can you get solar panels for free in Greenwich?
Solar panels aren’t free in Greenwich, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Greenwich have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Greenwich?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.