Solar Panel Cost Guide in Lebanon, NJ (2024 Update)
- Lebanon Solar Installation Cost: $11,751
- 25-Year Savings: $6,963
- Payback Period: 18.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lebanon
See how much it might cost to make the switch to solar in Lebanon.
The average cost of a solar panel system in Lebanon is 4 per watt.The average Lebanon homeowner needs a 4.8-kilowatt system, which would cost about $11,751 with the federal tax credit, or $16,804 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Lebanon can save about $13,000 on their power bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lebanon
Year | Return on Investment |
---|---|
1 years | $-10,692 |
3 years | $-8,574 |
5 years | $-6,455 |
7 years | $-4,337 |
9 years | $-2,218 |
11 years | $-100 |
13 years | $2,018 |
15 years | $4,137 |
17 years | $6,255 |
19 years | $8,374 |
21 years | $10,492 |
23 years | $12,610 |
25 years | $14,729 |
Top Solar Installers in Lebanon
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring a solar panel installer can make swapping over to solar power much easier. A solar company can also help save you money in the long run by offering warranties, repairs and part replacements.
There are various licensed solar professionals that can install solar panels for you. 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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Lebanon
Factors that Affect Solar Panel Costs in Lebanon
The cost of installing a solar system in Lebanon can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Lebanon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by around $3,530 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, 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
Most solar companies in Lebanon provide solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lebanon is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $4,999 | 18.9 years |
8 kW | $3.60 | $20,163 | $7,061 | 18.5 years |
10 kW | $3.53 | $24,710 | $9,320 | 18.2 years |
12 kW | $3.46 | $29,059 | $11,777 | 17.8 years |
14 kW | $3.39 | $33,210 | $14,432 | 17.4 years |
16 kW | $3.32 | $37,164 | $17,285 | 17.1 years |
18 kW | $3.25 | $40,920 | $20,335 | 16.7 years |
20 kW | $3.18 | $44,478 | $23,583 | 16.3 years |
How to Save on Solar Panels
There are a lot of companies available in Lebanon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Lebanon, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 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 above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lebanon?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.