Solar Panel Cost Guide in Lebanon, NJ (Dec 2022)

  • Lebanon Solar Installation Cost: $9,230
  • 25-Year Savings: $6,954
  • Payback Period: 14.2 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Lebanon

We break down average solar pricing in Lebanon.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Lebanon, the typical cost of a solar system is $3 per watt. The average solar panel system size in Lebanon is around 4.8 kilowatts, meaning a cost of about $9,230 for a solar installation, or $6,830 after the 30% federal solar tax credit is applied.

These figures are just averages, and how much solar costs for you will most likely look different based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Lebanon can save around $13,000 on their energy bills over 20 years.

Click the button below to get connected to a reputable solar installer in Lebanon for a custom estimate.

Solar savings over time in Lebanon

Year Return on Investment
1 years $-8,582
3 years $-7,288
5 years $-5,993
7 years $-4,698
9 years $-3,403
11 years $-2,109
13 years $-814
15 years $481
17 years $1,775
19 years $3,070
21 years $4,365
23 years $5,659
25 years $6,954

Top Solar Installers in Lebanon

When making the switch to solar, many homeowners opt to use a solar installation company since installing solar panels yourself can be a time-consuming project. Local solar installation companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.

If you're searching for a solar company in Lebanon, we've organized a list of our top suggestions here:

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

Tesla Energy

★★★★★
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 Lebanon

Factors that Affect Solar Panel Costs in Lebanon

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We'll go over 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Lebanon. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Lebanon average.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Lebanon homeowners opt to finance their solar panel systems to make paying for solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

Finally, the company you get to install your solar system can affect how much it costs. Lebanon's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 $8,319 14.8 years
8 kW $2.83 $15,822 $11,402 14.5 years
10 kW $2.77 $19,390 $14,640 14.2 years
12 kW $2.71 $22,803 $18,034 14.0 years
14 kW $2.66 $26,060 $21,582 13.7 years
16 kW $2.60 $29,163 $25,286 13.4 years
18 kW $2.55 $32,110 $29,145 13.1 years
20 kW $2.49 $34,902 $33,159 12.8 years

How to Save on Solar Panels

There are a large number of companies available in Lebanon, 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:

  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
  • Contract: It's important to read your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 good reviews from previous customers.
  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

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

Tesla Energy

★★★★★
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 Lebanon, NJ Solar Cost FAQs

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

The average cost of solar panels in Lebanon 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Lebanon?

Solar panels aren't free in Lebanon, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Do solar panels increase how much your home is worth?

Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose 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."

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy usage and the average daily 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 account for 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.

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