Solar Panel Cost Guide in Greenwich, NJ (Mar 2023)

  • Greenwich Solar Installation Cost: $9,307
  • 25-Year Savings: $6,877
  • Payback Period: 14.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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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 Greenwich

Find out what the average cost of a solar system is in Greenwich.

The average cost of a solar panel system in Greenwich is 2.77 per watt. Since a 4.8-kW system is needed to cover the energy costs of a typical home in Greenwich, the average price of going solar will be about $9,307 after claiming the federal solar tax credit of 30%.

These figures are only estimates, and the cost of going solar for you will most likely vary based on factors unique to your home and what company you want to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Greenwich can save about $13,000 on their energy bills over 20 years.

You can click the button below to get connected with a top solar installer in Greenwich for a quote for your home.

Solar savings over time in Greenwich

Year Return on Investment
1 years $-8,660
3 years $-7,365
5 years $-6,070
7 years $-4,776
9 years $-3,481
11 years $-2,186
13 years $-892
15 years $403
17 years $1,698
19 years $2,992
21 years $4,287
23 years $5,582
25 years $6,877

Top Solar Installers in Greenwich

Many homeowners opt for a solar panel installer since figuring out how to install solar panels by yourself can be hard. Companies can also offer access to a large variety of the best solar panels and help you choose which one will be right for you.

If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers in Greenwich:

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 Greenwich

Factors that Affect Solar Panel Costs in Greenwich

Though the average cost of a solar system in Greenwich is $9,307, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.

Solar Equipment

The size of the solar 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, your total will most likely increase by around $2,770. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Greenwich homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also adds to your overall costs, so it's important to consider that 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

Lastly, the company you opt for to install your solar system can affect your pricing. Greenwich's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting 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 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 $2.88 $12,099 $8,140 14.9 years
8 kW $2.83 $15,822 $11,163 14.7 years
10 kW $2.77 $19,390 $14,342 14.4 years
12 kW $2.71 $22,803 $17,675 14.1 years
14 kW $2.66 $26,060 $21,164 13.8 years
16 kW $2.60 $29,163 $24,808 13.5 years
18 kW $2.55 $32,110 $28,607 13.2 years
20 kW $2.49 $34,902 $32,561 12.9 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: Before you sign a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
  • Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.

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 Greenwich, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Greenwich?

The average cost of solar panels in Greenwich is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in Greenwich?

A solar panel system isn't free in Greenwich, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Is making the switch to solar worth it?

Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.

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 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.

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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