Solar Panel Cost Guide in Little Silver, NJ (Feb 2023)

  • Little Silver Solar Installation Cost: $8,764
  • 25-Year Savings: $7,419
  • Payback Period: 13.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Little Silver

Find out what the average cost of a solar system is in Little Silver.

The national average cost of solar panels is $2.66 per watt, but in Little Silver it's $3 per watt. Using this figure, a typical 4.5 would cost about $8,764 before the 30% federal solar tax credit is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Little Silver homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on utility bills.

For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Little Silver

Year Return on Investment
1 years $-8,117
3 years $-6,822
5 years $-5,528
7 years $-4,233
9 years $-2,938
11 years $-1,643
13 years $-349
15 years $946
17 years $2,241
19 years $3,535
21 years $4,830
23 years $6,125
25 years $7,419

Top Solar Installers in Little Silver

Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Hiring an installer can make swapping over to solar power much easier. Plus, if you're not certain what brand of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.

You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:

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 Little Silver

Factors that Affect Solar Panel Costs in Little Silver

The cost of installing a solar system in Little Silver can vary by more than $10,000 from home to home. Your actual cost depends on 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

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production 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. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Little Silver average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are available from most installers in Little Silver, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar system can influence your pricing. Little Silver's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more 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 companies.

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 $9,382 14.1 years
8 kW $2.83 $15,822 $12,819 13.8 years
10 kW $2.77 $19,390 $16,412 13.5 years
12 kW $2.71 $22,803 $20,160 13.3 years
14 kW $2.66 $26,060 $24,062 13.0 years
16 kW $2.60 $29,163 $28,120 12.7 years
18 kW $2.55 $32,110 $32,333 12.5 years
20 kW $2.49 $34,902 $36,702 12.2 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
  • Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
  • Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide good-quality solar panel installation and expertise.
  • Warranty: If you're worried about the longevity of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.

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 Little Silver, NJ Solar Cost FAQs

How much does it cost to install solar panels in Little Silver?

This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

The initial cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.

Do solar panels increase the value of your home?

Solar panels can increase your home value remarkably 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 a solar system."

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.

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