Solar Panel Cost Guide in Kinnelon, NJ (Jan 2023)
- Kinnelon Solar Installation Cost: $9,268
- 25-Year Savings: $8,148
- Payback Period: 13.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated January 20, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Kinnelon
See how much it might cost to switch to solar power in Kinnelon.
The average cost of a solar panel system in Kinnelon is $3 per watt. Using this figure, a typical 4.8 would cost about $9,268 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Kinnelon based on several factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $14,000 on power bills over 20 years, many homeowners in Kinnelon find investing in solar can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Kinnelon
| Year | Return on Investment |
|---|---|
| 1 years | $-8,572 |
| 3 years | $-7,178 |
| 5 years | $-5,785 |
| 7 years | $-4,392 |
| 9 years | $-2,999 |
| 11 years | $-1,605 |
| 13 years | $-212 |
| 15 years | $1,181 |
| 17 years | $2,575 |
| 19 years | $3,968 |
| 21 years | $5,361 |
| 23 years | $6,755 |
| 25 years | $8,148 |
Top Solar Installers in Kinnelon
Many homeowners choose to use a solar installer since trying to install solar panels yourself can be challenging. The expertise that solar companies provide can be helpful as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
Working with a licensed solar company can make going solar easier. 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
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 Kinnelon
Factors that Affect Solar Panel Costs in Kinnelon
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Kinnelon: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Kinnelon. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Kinnelon homeowners choose to finance their solar panel systems to make going solar more affordable. It's wise 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Kinnelon, and each can charge different amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting 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 | $9,768 | 13.8 years |
| 8 kW | $2.83 | $15,822 | $13,335 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $17,056 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,933 | 13.0 years |
| 14 kW | $2.66 | $26,060 | $24,964 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $29,151 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,493 | 12.2 years |
| 20 kW | $2.49 | $34,902 | $37,990 | 12.0 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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 past customers.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Kinnelon, NJ Solar Cost FAQs
How much does it cost to install solar panels in Kinnelon?
This is a tough question to answer precisely, because the cost depends on many 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $728.92 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.