Solar Panel Cost Guide in Jersey City, NJ (2023 Update)
- Jersey City Solar Installation Cost: $8,922
- 25-Year Savings: $8,928
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Jersey City
We break down average solar pricing in Jersey City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Jersey City, the typical cost of solar panels is 2.77 per watt. Using this figure, a typical 4.6-kW system would cost about $8,919 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Jersey City based on several factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Jersey City can save about $15,000 on their electricity 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 Jersey City
| Year | Return on Investment |
|---|---|
| 1 years | $-7,500 |
| 3 years | $-4,655 |
| 5 years | $-1,810 |
| 7 years | $1,034 |
| 9 years | $3,879 |
| 11 years | $6,724 |
| 13 years | $9,568 |
| 15 years | $12,413 |
| 17 years | $15,258 |
| 19 years | $18,103 |
| 21 years | $20,947 |
| 23 years | $23,792 |
| 25 years | $26,637 |
Top Solar Installers in Jersey City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make switching to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Jersey City
Factors that Affect Solar Panel Costs in Jersey City
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Jersey City: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Jersey City. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Jersey City average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Jersey City, and each can charge varying amounts for labor and equipment. Additionally, some companies in Jersey City know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,176 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,212 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,402 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,748 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,249 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,905 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,716 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,683 | 11.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though 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 be sure to peruse their list of options 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 Jersey City, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Jersey City?
The average cost of solar panels in Jersey City is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Jersey City?
You can't get solar panels for free in Jersey City. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Jersey City, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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 amount of 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 cover 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.