Solar Panel Cost Guide in Lawrenceville, NJ (Oct 2022)

  • Lawrenceville Solar Installation Cost: $9,152
  • 25-Year Savings: $8,698
  • Payback Period: 12.8 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Lawrenceville

Let's take a look at the average cost of solar panels in Lawrenceville.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lawrenceville, the average cost of solar panels is $3 per watt. The average Lawrenceville homeowner needs a 4.7-kilowatt system, which would cost about $9,152, or $6,772 after the federal solar tax credit of 30% is applied.

These figures are only estimates, and the cost of going solar for you will most likely differ based on your specific situation and what company you go with. Many homeowners find adopting solar power is a solid investment. The average homeowner in Lawrenceville can save about $14,000 on their electricity bills over 20 years.

Click the button below to get connected to a reputable solar company in your area for a personalized quote.

Solar savings over time in Lawrenceville

Year Return on Investment
1 years $-8,438
3 years $-7,010
5 years $-5,582
7 years $-4,154
9 years $-2,726
11 years $-1,298
13 years $130
15 years $1,558
17 years $2,986
19 years $4,414
21 years $5,842
23 years $7,270
25 years $8,698

Top Solar Installers in Lawrenceville

When going solar, many homeowners decide to hire a solar installation company since handling can be a challenging project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.

Working with a vetted solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lawrenceville

Factors that Affect Solar Panel Costs in Lawrenceville

There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size. Solar power systems that have greater efficiency or power generation need 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. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Lawrenceville homeowners decide to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your total costs, so it's important to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Lawrenceville, and each can charge varying amounts for labor and equipment. Larger national companies typically 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 additional 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 $10,611 13.3 years
8 kW $2.83 $15,822 $14,459 13.1 years
10 kW $2.77 $19,390 $18,461 12.8 years
12 kW $2.71 $22,803 $22,618 12.6 years
14 kW $2.66 $26,060 $26,931 12.3 years
16 kW $2.60 $29,163 $31,399 12.0 years
18 kW $2.55 $32,110 $36,022 11.8 years
20 kW $2.49 $34,902 $40,800 11.5 years

Solar Incentives in Lawrenceville

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models 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 verifiable expertise in the field. A couple of 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 satisfied reviews from past customers.
  • Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Contract: Review the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
  • Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • 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 Lawrenceville, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Lawrenceville?

The average cost of solar panels in Lawrenceville 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 such as the type 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 Lawrenceville?

Leasing solar panels can be an option if you can't pay upfront or get 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 bang for your buck from going solar.

Can solar panels completely eradicate my electricity bills?

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 $757.02 per year.

How long do solar panels last in Lawrenceville?

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 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.

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