Solar Panel Cost Guide in Midland Park, NJ (2024 Update)

  • Midland Park Solar Installation Cost: $11,529
  • 25-Year Savings: $8,958
  • Payback Period: 16.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Midland Park

Find out what the average cost of a solar system is in Midland Park.

While the national average of solar panels is $2.66 per watt, solar panels in Midland Park typically cost about 4.Since a 4.7-kW system is needed to cover the energy costs of a typical home in Midland Park, the average price of going solar will be about $11,529 after claiming the federal solar tax credit of 0.

How much you pay can be above or below the average in Midland Park depending on several factors, such as the kind of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Midland Park can save around $15,000 on their electricity bills over 20 years.

To calculate your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in Midland Park

Year Return on Investment
1 years $-10,106
3 years $-7,262
5 years $-4,417
7 years $-1,572
9 years $1,273
11 years $4,117
13 years $6,962
15 years $9,807
17 years $12,652
19 years $15,496
21 years $18,341
23 years $21,186
25 years $24,031

Top Solar Installers in Midland Park

When switching to solar energy, many homeowners decide to go with a solar installation company since putting up a solar system yourself can be a difficult project. Some solar companies, especially local ones, can help you better understand incentives in Midland Park, thereby optimizing your ROI.

There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Midland Park

Factors that Affect Solar Panel Costs in Midland Park

Though the average cost of a solar system in Midland Park is $11,529, your final cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.

Solar Equipment

The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. The solar equipment you choose can bring your price up or down 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, higher efficiency could save you more in the long run on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Midland Park average.

Solar Financing Terms

Most solar companies in Midland Park have solar loans, which reduce your upfront costs of installing solar panels.While solar loans make going solar more accessible for Midland Park homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Midland Park, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Midland Park know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 $3.67 $15,419 $7,735 16.6 years
8 kW $3.60 $20,163 $10,709 16.3 years
10 kW $3.53 $24,710 $13,880 16.0 years
12 kW $3.46 $29,059 $17,250 15.7 years
14 kW $3.39 $33,210 $20,816 15.4 years
16 kW $3.32 $37,164 $24,581 15.0 years
18 kW $3.25 $40,920 $28,543 14.7 years
20 kW $3.18 $44,478 $32,703 14.4 years

How to Save on Solar Panels

Since the model of solar panels and the installation company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
  • Warranty: If you’re worried about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Midland Park, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Midland Park?

This is a hard question to answer exactly, 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

What other factors should I consider other than cost when buying solar panels?

The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

How much can I save on energy bills after switching to solar?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Midland Park, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Midland Park?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.

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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