Solar Panel Cost Guide in Metuchen, NJ (Mar 2023)
- Metuchen Solar Installation Cost: $9,075
- 25-Year Savings: $8,776
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Metuchen
Find out what the average cost of solar panels are in Metuchen.
The national average cost of solar panels is $2.66 per watt, but in Metuchen it's 2.77 per watt. To account for the typical energy needs of the average home in Metuchen, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,075, or $12,977 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and how much solar costs for you will most likely differ based on your energy needs and what company you go with. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $14,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a customized quote.
Solar savings over time in Metuchen
| Year | Return on Investment |
|---|---|
| 1 years | $-8,360 |
| 3 years | $-6,932 |
| 5 years | $-5,504 |
| 7 years | $-4,076 |
| 9 years | $-2,648 |
| 11 years | $-1,220 |
| 13 years | $208 |
| 15 years | $1,636 |
| 17 years | $3,064 |
| 19 years | $4,492 |
| 21 years | $5,920 |
| 23 years | $7,348 |
| 25 years | $8,776 |
Top Solar Installers in Metuchen
When going solar, many homeowners decide to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. The expertise that solar companies provide can be useful as well, especially if you aren't sure what type of solar equipment you need.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Metuchen
Factors that Affect Solar Panel Costs in Metuchen
The cost of installing a solar system in Metuchen can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Metuchen offer solar loans, which reduce the initial cost of installing solar panels. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Metuchen, and each can charge varying amounts for labor and equipment. Additionally, some companies in Metuchen have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,786 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,691 | 13.0 years |
| 10 kW | $2.77 | $19,390 | $18,752 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $22,968 | 12.5 years |
| 14 kW | $2.66 | $26,060 | $27,338 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $31,864 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,546 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,382 | 11.4 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Metuchen, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Metuchen, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Metuchen?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Metuchen?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home 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 a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.