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.Because a 4.8-kW system is needed to cover the energy usage of a typical home in Morristown, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
How much you pay can be higher or lower than the average in Morristown depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.With typical savings of about $16,000 on power bills over 20 years, many homeowners in Morristown find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Morristown for a quote for your home.
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
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be time-consuming. Plus, if you’re not certain what type of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels 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 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
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Morristown: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.The kind of solar equipment you choose can increase or decrease your cost 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 power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Morristown average.
Solar Financing Terms
Most solar installers in Morristown provide solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence how much you pay. Morristown’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fits within your budget.
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: Solar companies that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
- 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.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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
How much does it cost to install 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 stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Morristown?
Solar panels aren’t free in Morristown, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly 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 solar panels."
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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.