Solar Panel Cost Guide in Jefferson, NJ (2023 Update)
- Jefferson Solar Installation Cost: $11,808
- 25-Year Savings: $14,672
- Payback Period: 17.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Jefferson
Find out what the average cost of solar panels are in Jefferson.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Jefferson, the average cost of solar panels is 4 per watt.Because a 4.8-kW system is needed to cover the energy consumption of a typical home in Jefferson, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Jefferson homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Jefferson find installing solar panels has a decent ROI.
You can click the button below to get connected with a vetted solar company in Jefferson that can help you get a more accurate cost estimate for your home.
Solar savings over time in Jefferson
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Jefferson
When switching to solar energy, many homeowners opt to use a solar company since installing solar panels yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
If you're looking for a solar installer in Jefferson, we've put together a list of our top suggestions here:
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 Jefferson
Factors that Affect Solar Panel Costs in Jefferson
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy 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, you can expect your total to increase by nearly $3,530. 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 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, 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 Jefferson to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.Although solar loans make adopting solar energy more accessible for Jefferson homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Jefferson, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $3.67 | $15,419 | $6,391 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,916 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,640 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,561 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,679 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,996 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,510 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,221 | 15.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
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 Jefferson, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Jefferson?
The average cost of solar panels in Jefferson is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Jefferson?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Jefferson, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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 goes down 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.