Solar Panel Cost Guide in New Brunswick, NJ (2024 Update)
- New Brunswick Solar Installation Cost: $11,564
- 25-Year Savings: $8,776
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in New Brunswick
Find out what the average cost of solar panels are in New Brunswick.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Brunswick, the typical cost of solar panels is 4 per watt.Since a 4.7-kW system is needed to cover the energy needs of a typical home in New Brunswick, the average price of going solar will be about $11,564 after claiming the federal solar tax credit of 0.
These figures are just averages, and the cost of going solar for you may vary based on your energy needs and what company you want to go with.With typical savings of about $14,000 on electricity bills over 20 years, many homeowners in New Brunswick find investing in solar can be quite rewarding.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in New Brunswick
Year | Return on Investment |
---|---|
1 years | $-10,142 |
3 years | $-7,297 |
5 years | $-4,452 |
7 years | $-1,608 |
9 years | $1,237 |
11 years | $4,082 |
13 years | $6,927 |
15 years | $9,771 |
17 years | $12,616 |
19 years | $15,461 |
21 years | $18,306 |
23 years | $21,150 |
25 years | $23,995 |
Top Solar Installers in New Brunswick
When making the switch to solar, many homeowners opt to go with a solar company since installing a solar system yourself can be a time-consuming project. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you're on the hunt for a solar company in New Brunswick, the EcoWatch team has compiled a list of our top suggestions here:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in New Brunswick
Factors that Affect Solar Panel Costs in New Brunswick
The cost of installing a solar system in New Brunswick can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the New Brunswick average.
Solar Financing Terms
Many homeowners find the average cost of solar in New Brunswick to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you go with to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout New Brunswick, and each can charge different amounts for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. 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 is 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 | $7,466 | 16.8 years |
8 kW | $3.60 | $20,163 | $10,350 | 16.5 years |
10 kW | $3.53 | $24,710 | $13,432 | 16.2 years |
12 kW | $3.46 | $29,059 | $16,711 | 15.9 years |
14 kW | $3.39 | $33,210 | $20,188 | 15.5 years |
16 kW | $3.32 | $37,164 | $23,863 | 15.2 years |
18 kW | $3.25 | $40,920 | $27,736 | 14.9 years |
20 kW | $3.18 | $44,478 | $31,806 | 14.6 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's New Brunswick, NJ Solar Cost FAQs
What is the average cost of installing solar panels in New Brunswick?
The average cost of solar panels in New Brunswick is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in New Brunswick?
You can’t get solar panels for free in New Brunswick. 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 you sell solar power back to the grid in New Brunswick?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.