Solar Panel Cost Guide in Metuchen, NJ (2023 Update)
- Metuchen Solar Installation Cost: $9,074
- 25-Year Savings: $8,776
- Payback Period: 12.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Metuchen
Let's have a look at the average cost of solar in Metuchen.
In Metuchen, solar panels cost about 2.77 per watt on average. Since a 4.7-kW system is needed to cover the energy needs of a typical home in Metuchen, the average price of going solar will be about $9,075 after claiming the federal solar tax credit of 30%.
The true price you pay can be above or below the average in Metuchen based on a few factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Metuchen see about $14,000 in savings on utility bills over 20 years.
Click the button below to get connected to a reputable solar company in Metuchen for a personalized estimate.
Solar savings over time in Metuchen
| Year | Return on Investment |
|---|---|
| 1 years | $-7,652 |
| 3 years | $-4,807 |
| 5 years | $-1,963 |
| 7 years | $882 |
| 9 years | $3,727 |
| 11 years | $6,572 |
| 13 years | $9,416 |
| 15 years | $12,261 |
| 17 years | $15,106 |
| 19 years | $17,951 |
| 21 years | $20,795 |
| 23 years | $23,640 |
| 25 years | $26,485 |
Top Solar Installers in Metuchen
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be hard. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Metuchen, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Metuchen, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Metuchen, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Metuchen?
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. You can expect to pay more if you want extra 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 expensive solar panels.
Is it better to lease or buy solar panels in Metuchen?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 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.