Solar Panel Cost Guide in Morris Plains, NJ (2023 Update)
- Morris Plains Solar Installation Cost: $9,266
- 25-Year Savings: $6,918
- Payback Period: 14.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Morris Plains
Here's how much it might cost to go solar in Morris Plains.
In Morris Plains, solar panels cost about 2.77 per watt on average. Because a 4.8-kW system is needed to cover the energy consumption of a typical home in Morris Plains, the average price of going solar will be about $9,268 after claiming the federal solar tax credit of 30%.
How much you pay can go above or below the average in Morris Plains depending on a few factors, such as the type of solar panels you choose and the solar company you hire. Even with the significant initial cost, the average Morris Plains homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar company in your area for a personalized estimate.
Solar savings over time in Morris Plains
| Year | Return on Investment |
|---|---|
| 1 years | $-9,212 |
| 3 years | $-9,104 |
| 5 years | $-8,996 |
| 7 years | $-8,888 |
| 9 years | $-8,780 |
| 11 years | $-8,672 |
| 13 years | $-8,564 |
| 15 years | $-8,456 |
| 17 years | $-8,349 |
| 19 years | $-8,241 |
| 21 years | $-8,133 |
| 23 years | $-8,025 |
| 25 years | $-7,917 |
Top Solar Installers in Morris Plains
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with an installer can make switching to solar power much easier. Some solar companies, especially local ones, can help you take advantage of incentives in Morris Plains, thereby optimizing your ROI.
If you'd like to make the switch to solar but still aren't sure which solar system company to go with, here are our suggestions for providers 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 Morris Plains
Factors that Affect Solar Panel Costs in Morris Plains
There are a number of factors that can influence your solar system 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
When it comes to estimating the price of a solar system in Morris Plains, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. 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 are often more expensive 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Morris Plains, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $8,221 | 14.9 years |
| 8 kW | $2.83 | $15,822 | $11,271 | 14.6 years |
| 10 kW | $2.77 | $19,390 | $14,477 | 14.3 years |
| 12 kW | $2.71 | $22,803 | $17,838 | 14.0 years |
| 14 kW | $2.66 | $26,060 | $21,354 | 13.7 years |
| 16 kW | $2.60 | $29,163 | $25,025 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,851 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,832 | 12.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Plains, NJ Solar Cost FAQs
How much does it cost to install solar panels in Morris Plains?
The average cost of solar panels in Morris Plains is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Morris Plains?
You can't get solar panels for free in Morris Plains. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $677.34 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.