Solar Panel Cost Guide in Ho Ho Kus, NJ (Sep 2022)

  • Ho Ho Kus Solar Installation Cost: $9,055
  • 25-Year Savings: $8,950
  • Payback Period: 12.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Ho Ho Kus

We break down average solar pricing in Ho Ho Kus.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Ho Ho Kus, the average cost of solar panels is $3 per watt. The average Ho Ho Kus homeowner needs a 4.7-kilowatt system, which would cost about $9,055, or $6,701 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Ho Ho Kus can save about $15,000 on their power bills over 20 years.

To calculate your potential savings and connect with a local solar company, click the button below.

Solar savings over time in Ho Ho Kus

Year Return on Investment
1 years $-8,335
3 years $-6,895
5 years $-5,454
7 years $-4,014
9 years $-2,573
11 years $-1,133
13 years $307
15 years $1,748
17 years $3,188
19 years $4,628
21 years $6,069
23 years $7,509
25 years $8,950

Top Solar Installers in Ho Ho Kus

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make your swap to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your home.

If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers in Ho Ho Kus:

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

The Green Panel

★★★★★
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 Ho Ho Kus

Factors that Affect Solar Panel Costs in Ho Ho Kus

There are several factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

The size of the solar panel system you need is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a 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 a small roof or just want maximum energy production, you will be looking at 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

Many homeowners find the average cost of solar in Ho Ho Kus to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can influence how much you pay. Ho Ho Kus' solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more 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 names.

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 $11,055 13.1 years
8 kW $2.83 $15,822 $15,050 12.8 years
10 kW $2.77 $19,390 $19,200 12.6 years
12 kW $2.71 $22,803 $23,506 12.3 years
14 kW $2.66 $26,060 $27,967 12.1 years
16 kW $2.60 $29,163 $32,582 11.8 years
18 kW $2.55 $32,110 $37,353 11.6 years
20 kW $2.49 $34,902 $42,279 11.3 years

Solar Incentives in Ho Ho Kus

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:

  • Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
  • Contract: Before you sign a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
  • Solar Panel Brands: Different companies will offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.

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

The Green Panel

★★★★★
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 Ho Ho Kus, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Ho Ho Kus?

The average cost of solar panels in Ho Ho Kus 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.

What other factors should I consider other than cost 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 having solar panels impact my property value?

Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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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