Solar Panel Cost Guide in Morris, NJ (2023 Update)
- Morris Solar Installation Cost: $9,266
- 25-Year Savings: $10,635
- Payback Period: 11.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Morris
Find out what the average cost of solar panel installation is in Morris.
In Morris, solar panels cost about 2.77 per watt on average. Using this figure, a typical 4.8-kW system would cost about $9,268 before the 30% federal solar tax credit is applied.
The true price you pay can go higher or lower than the average in Morris depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire. Despite the significant initial cost, the average Morris homeowner can save about $16,000 on their power bills over 20 years, which is one of the perks of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Morris
| Year | Return on Investment |
|---|---|
| 1 years | $-8,207 |
| 3 years | $-6,088 |
| 5 years | $-3,970 |
| 7 years | $-1,851 |
| 9 years | $267 |
| 11 years | $2,385 |
| 13 years | $4,504 |
| 15 years | $6,622 |
| 17 years | $8,741 |
| 19 years | $10,859 |
| 21 years | $12,977 |
| 23 years | $15,096 |
| 25 years | $17,214 |
Top Solar Installers in Morris
Although it's possible to install solar panels yourself, it takes extra labor and knowledge. Because of that, almost all homeowners choose a solar panel installer. Another upside of going with a solar company is that they can help you make the most of your return of investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
Working with a vetted solar installer 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
See all of the solar companies in Morris
Factors that Affect Solar Panel Costs in Morris
There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, add-on products, like solar batteries, can bump up your total well above the Morris average.
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. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. However, the interest on solar loans also increases your overall costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Morris is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different costs. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
Since the brand of solar panels and the installation company you choose greatly affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: The brand of solar panel you need to get plays a role in which installer you should go with, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
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 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.