Solar Panel Cost Guide in Ho Ho Kus, NJ (2023 Update)
- Ho Ho Kus Solar Installation Cost: $9,055
- 25-Year Savings: $8,950
- Payback Period: 12.6 Years
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Updated May 04, 2023
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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 2.77 per watt. The average Ho Ho Kus homeowner needs a 4.7-kilowatt system, which would cost about $9,055 with the federal tax credit, or $12,949 before the 30% tax credit 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 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 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
The size of the solar panel system you need, which is measured in kilowatts, 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 |
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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Ho Ho Kus, NJ Solar Cost FAQs
How much does it cost to install solar panels in Ho Ho Kus?
This is a hard question to answer exactly, 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Ho Ho Kus?
You can't get solar panels for free in Ho Ho Kus. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ho Ho Kus is currently $756,800, which means you can expect a value of about $31,029 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ho Ho Kus is a fruitful investment.
How long do solar panels last in Ho Ho Kus?
On average, the lifespan of solar panels is 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.