Solar Panel Cost Guide in Maplewood, NJ (Sep 2022)

  • Maplewood Solar Installation Cost: $9,171
  • 25-Year Savings: $7,846
  • Payback Period: 13.5 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 Maplewood

We break down average solar pricing in Maplewood.

The national average cost of solar panels is $2.66 per watt, but in Maplewood it's $3 per watt. To cover the typical energy usage of the average home in Maplewood, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,171, or $6,787 after the federal solar tax credit of 30% is applied.

These figures are only estimates, and how much solar costs for you will vary based on your energy needs and what company you choose to go with. Even with the high upfront cost, the average Maplewood homeowner can save about $14,000 on their power bills over 20 years, which is one of the perks of solar.

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

Solar savings over time in Maplewood

Year Return on Investment
1 years $-8,491
3 years $-7,129
5 years $-5,768
7 years $-4,407
9 years $-3,045
11 years $-1,684
13 years $-323
15 years $1,039
17 years $2,400
19 years $3,761
21 years $5,123
23 years $6,484
25 years $7,846

Top Solar Installers in Maplewood

Although you can install solar panels yourself, it takes extra time and expertise. Because of that, most people choose to go with a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you choose which one will be right for your home.

If you'd like to start using solar energy but still aren't certain which solar system installer to go with, here are our recommendations for providers near you:

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 Maplewood

Factors that Affect Solar Panel Costs in Maplewood

Even though the average cost of solar panels in Maplewood is $9,171, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment Size

When it comes to estimating the price of a solar system in Maplewood, 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 determine by looking at past electricity bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. The type 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, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Maplewood average.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Maplewood homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The last major cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Maplewood, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that provides the products, warranties and services you want and also fits within your budget.

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 $9,479 14.0 years
8 kW $2.83 $15,822 $12,949 13.7 years
10 kW $2.77 $19,390 $16,574 13.5 years
12 kW $2.71 $22,803 $20,354 13.2 years
14 kW $2.66 $26,060 $24,289 12.9 years
16 kW $2.60 $29,163 $28,380 12.7 years
18 kW $2.55 $32,110 $32,625 12.4 years
20 kW $2.49 $34,902 $37,026 12.1 years

Solar Incentives in Maplewood

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

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

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:

  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
  • Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.

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 Maplewood, NJ Solar Cost FAQs

How much does it cost to install solar panels in Maplewood?

This is a hard question to answer precisely, because the cost depends on many factors. Broadly 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 higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

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

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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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