Solar Panel Cost Guide in Morristown, NJ (2024 Update)
- Morristown Solar Installation Cost: $11,808
- 25-Year Savings: $14,672
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Morristown
Let’s have a look at the average cost of solar in Morristown.
The average cost of a solar system in Morristown is 4 per watt.To account for the typical energy needs of the average home in Morristown, most homeowners require a 4.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,808, or $16,885 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Morristown based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Morristown can save around $16,000 on their power bills over 20 years.
Click the button below to get connected to a vetted solar company in Morristown for a customized estimate.
Solar savings over time in Morristown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Morristown
When making the switch to solar, many homeowners decide to use a solar installer since installing a solar system yourself can be a time-consuming project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Morristown
Factors that Affect Solar Panel Costs in Morristown
Although the average cost of a solar system in Morristown is $11,808, your actual cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,530. The brand and kind of equipment you choose 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Morristown offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Morristown have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $9,568 | 15.4 years |
| 8 kW | $3.60 | $20,163 | $13,153 | 15.1 years |
| 10 kW | $3.53 | $24,710 | $16,936 | 14.8 years |
| 12 kW | $3.46 | $29,059 | $20,916 | 14.5 years |
| 14 kW | $3.39 | $33,210 | $25,094 | 14.2 years |
| 16 kW | $3.32 | $37,164 | $29,469 | 13.9 years |
| 18 kW | $3.25 | $40,920 | $34,043 | 13.6 years |
| 20 kW | $3.18 | $44,478 | $38,814 | 13.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Morristown, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Morristown?
The average cost of solar panels in Morristown is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Morristown?
A solar panel system isn’t free in Morristown, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Solar panels can increase your home value 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 should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.