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Top Solar Installers in Hoboken
When switching to solar energy, many homeowners choose to hire a solar company since putting up a solar system yourself can be a time-consuming project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar installer in Hoboken, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Hoboken
Factors that Affect Solar Panel Costs in Hoboken
Although the average cost of solar panels in Hoboken is $9,429, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment Size
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size. Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Hoboken to be prohibitively costly, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Hoboken is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that provide a range of services for different budgets. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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||$12,791||$10,485||13.7 years|
|8 kW||$2.83||$16,726||$14,307||13.5 years|
|10 kW||$2.77||$20,498||$18,294||13.2 years|
|12 kW||$2.71||$24,106||$22,445||12.9 years|
|14 kW||$2.66||$27,549||$26,760||12.7 years|
|16 kW||$2.60||$30,829||$31,239||12.4 years|
|18 kW||$2.55||$33,945||$35,882||12.2 years|
|20 kW||$2.49||$36,896||$40,688||11.9 years|
Solar Incentives in Hoboken
|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
|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||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
|More Info||Click here|
How to Save on Solar Panels
There are numerous companies to choose from in Hoboken, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar installer, be 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 the warranty covers and what services you can expect from them.
- Installation Process: When making the switch to solar power, it's necessary to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project completion timeline.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The kind of solar panel you need to get plays a part in which installer you should go with, since different companies have access to different panels.
EcoWatch's Hoboken, NJ Solar Cost FAQs
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.