Solar Panel Cost Guide in Kinnelon, NJ (2024 Update)
- Kinnelon Solar Installation Cost: $11,808
- 25-Year Savings: $8,151
- Payback Period: 16.9 Years
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Average Cost of Solar Panels in Kinnelon
Find out what the average cost of solar panels are in Kinnelon.
In Kinnelon, solar panels cost about 4 per watt on average.Because a 4.8-kW system is needed to cover the energy costs of a typical home in Kinnelon, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Kinnelon 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, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To receive a free quote from a highly rated solar installation company in Kinnelon, you can click the button below.
Solar savings over time in Kinnelon
| 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 Kinnelon
When switching to solar energy, many homeowners prefer to go with a solar installer since putting up a solar system yourself can be a difficult project. Plus, if you’d like to maximize your investment in solar, going with a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Kinnelon
Factors that Affect Solar Panel Costs in Kinnelon
There are several criteria that can play into your total 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 system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,530. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment is more than 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Kinnelon offer solar loans, which reduce your upfront costs of installing solar panels.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Kinnelon, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk 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 lower to compete with bigger companies.
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 | $6,449 | 17.6 years |
| 8 kW | $3.60 | $20,163 | $8,994 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,736 | 16.9 years |
| 12 kW | $3.46 | $29,059 | $14,676 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,814 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,150 | 15.9 years |
| 18 kW | $3.25 | $40,920 | $24,683 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,414 | 15.3 years |
How to Save on Solar Panels
There are many companies available in Kinnelon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which type 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 deciding.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $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 like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Kinnelon?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Do solar panels increase your property value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.