Solar Panel Cost Guide in Morris, NJ (Feb 2023)
- Morris Solar Installation Cost: $9,268
- 25-Year Savings: $10,633
- Payback Period: 11.6 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Morris
We go over average solar pricing in Morris.
Although the national average of solar panels is $2.66 per watt, solar panels in Morris generally cost about $3. Using this figure, a typical 4.8 would cost about $9,268 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on your energy needs and what company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar panel company in Morris for a personalized quote.
Solar savings over time in Morris
| Year | Return on Investment |
|---|---|
| 1 years | $-8,472 |
| 3 years | $-6,880 |
| 5 years | $-5,288 |
| 7 years | $-3,696 |
| 9 years | $-2,104 |
| 11 years | $-512 |
| 13 years | $1,080 |
| 15 years | $2,672 |
| 17 years | $4,264 |
| 19 years | $5,856 |
| 21 years | $7,448 |
| 23 years | $9,040 |
| 25 years | $10,633 |
Top Solar Installers in Morris
Although you can install solar panels on your own, it involves extra effort and handiness. That's one of the reasons almost all homeowners choose to go with a solar panel installer. Plus, if you'd like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Morris
Factors that Affect Solar Panel Costs in Morris
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Morris: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Morris to be too costly, even if the investment pays off over time. Thankfully, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $12,888 | 12.1 years |
| 8 kW | $2.83 | $15,822 | $17,494 | 11.9 years |
| 10 kW | $2.77 | $19,390 | $22,256 | 11.6 years |
| 12 kW | $2.71 | $22,803 | $27,172 | 11.4 years |
| 14 kW | $2.66 | $26,060 | $32,244 | 11.2 years |
| 16 kW | $2.60 | $29,163 | $37,471 | 10.9 years |
| 18 kW | $2.55 | $32,110 | $42,853 | 10.7 years |
| 20 kW | $2.49 | $34,902 | $48,390 | 10.5 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your overall costs, but also the kinds 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, such as:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big 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
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 Morris, NJ Solar Cost FAQs
How much does it cost to install solar panels in Morris?
The average cost of solar panels in Morris is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Morris?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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.
Is it worth going solar in Morris?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 get between 20 and 35 panels to account for 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.