Solar Panel Cost Guide in Jefferson, NJ (Mar 2023)
- Jefferson Solar Installation Cost: $9,268
- 25-Year Savings: $8,102
- Payback Period: 13.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Jefferson
Find out what the average cost of solar panels are in Jefferson.
The average cost of a solar system in Jefferson is 2.77 per watt. To account for the typical energy usage of the average home in Jefferson, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs about $9,268, or $13,253 before the federal solar tax credit of 30% is applied.
Keep 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. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Jefferson for a quote for your home.
Solar savings over time in Jefferson
| Year | Return on Investment |
|---|---|
| 1 years | $-8,574 |
| 3 years | $-7,184 |
| 5 years | $-5,794 |
| 7 years | $-4,405 |
| 9 years | $-3,015 |
| 11 years | $-1,626 |
| 13 years | $-236 |
| 15 years | $1,154 |
| 17 years | $2,543 |
| 19 years | $3,933 |
| 21 years | $5,323 |
| 23 years | $6,712 |
| 25 years | $8,102 |
Top Solar Installers in Jefferson
Although you can install solar panels on your own, it takes extra energy and handiness. For that reason, the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our suggestions for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Jefferson
Factors that Affect Solar Panel Costs in Jefferson
The cost of installing a solar system in Jefferson can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The model of solar panels and equipment you get is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Jefferson offer solar loans, which reduce your upfront costs of installing solar. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Jefferson, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $2.88 | $12,099 | $9,710 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,258 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,960 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,817 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,829 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $28,997 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,320 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,797 | 12.0 years |
How to Save on Solar Panels
There are a large number of companies available in Jefferson, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Reputation: Make sure your solar panel 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 EcoWatch.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Jefferson, NJ Solar Cost FAQs
How much does it cost to install solar panels in Jefferson?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Jefferson?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Jefferson is currently $324,582, which means you can look forward to a value of about $13,308 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Jefferson is a rewarding investment.
How long do solar panels last in Jefferson?
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 level 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.