Solar Panel Cost Guide in Kinnelon, NJ (Sep 2022)
- Kinnelon Solar Installation Cost: $9,268
- 25-Year Savings: $8,148
- Payback Period: 13.3 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Kinnelon
See how much it might cost to switch to solar power in Kinnelon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Kinnelon, the typical cost of solar panels 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 price you pay can go higher or lower than the average in Kinnelon based on several factors, such as the brand of solar panels you choose and the solar company you hire. Many homeowners find adopting solar power is a sound investment. The average homeowner in Kinnelon can save about $14,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar company in Kinnelon that can help you get a more accurate cost estimate for your home.
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
When going solar, many homeowners choose to go with a solar installation company since installing a solar system yourself can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
The Green Panel
- 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 often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Kinnelon: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment Size
The size of the solar system you need is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. The type of solar panels and equipment you want is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Kinnelon have solar loans, which reduce your upfront costs of installing solar. While solar loans make adopting solar energy more accessible for Kinnelon homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Kinnelon, you'll have many options to choose from, but each comes at different price points for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally 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 | $12,099 | $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 |
Solar Incentives in Kinnelon
| 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 |
| Website | Visit here |
| 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 | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SRECs) Registration Program |
| Incentive Amount | Determined by the market. In June 2016, SREC traded at an average price of $229.90. |
| Incentive Max | Maximum price set by the SACP for the particular year. |
| Website | Visit here |
| More Info | Click here |
| Name | PSE&G - Solar Loan Program |
| Website | Visit here |
| 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 |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Energy Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| More Info | Click here |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good 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 previous customers.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: When making the switch to solar, it's crucial to keep an open line of communication with your solar company. Make sure you understand how the installation process will go and the project timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
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
The Green Panel
- 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
What is the average cost of installing solar panels in Kinnelon?
The average cost of solar panels in Kinnelon 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 use.
Can you get solar panels for free in Kinnelon?
You can't get solar panels for free in Kinnelon. However, you may still be able to afford 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.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Kinnelon, that will require at least a 10-kW system. Not all homes 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 many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 install 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.
