Solar Panel Cost Guide in Harrison, NJ (2023 Update)
- Harrison Solar Installation Cost: $8,922
- 25-Year Savings: $8,928
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Harrison
See how much it might cost to make the switch to solar in Harrison.
The national average cost of solar panels is $2.66 per watt, but in Harrison it's 2.77 per watt. Using this figure, a typical 4.6-kW system would cost about $8,919 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Harrison can save around $15,000 on their electricity bills over 20 years.
To get a free quote from a pre-vetted solar installation company in Harrison, you can click the button below.
Solar savings over time in Harrison
| Year | Return on Investment |
|---|---|
| 1 years | $-7,500 |
| 3 years | $-4,655 |
| 5 years | $-1,810 |
| 7 years | $1,034 |
| 9 years | $3,879 |
| 11 years | $6,724 |
| 13 years | $9,568 |
| 15 years | $12,413 |
| 17 years | $15,258 |
| 19 years | $18,103 |
| 21 years | $20,947 |
| 23 years | $23,792 |
| 25 years | $26,637 |
Top Solar Installers in Harrison
Although you can install solar panels by yourself, it requires extra labor and expertise. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for you.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Harrison
Factors that Affect Solar Panel Costs in Harrison
Although the average cost of a solar system in Harrison is $8,919, 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 panel installation. Below are some of the more crucial things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Harrison homeowners opt to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact the cost. Harrison's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Harrison know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,176 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,212 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,402 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,748 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,249 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,905 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,716 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,683 | 11.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- 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 choose.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
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 Harrison, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Harrison?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Harrison?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in Harrison?
The majority of states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.