Solar Panel Cost Guide in New Brunswick, NJ (Oct 2022)

  • New Brunswick Solar Installation Cost: $9,075
  • 25-Year Savings: $8,776
  • Payback Period: 12.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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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.

The average cost of a solar panel system in New Brunswick is $3 per watt. To cover the typical energy needs of the average home in New Brunswick, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,075, or $6,716 after the federal solar tax credit of 30% is applied.

These figures are just estimates, and how much solar costs for you may vary based on the amount of energy your home requires and what company you go with. With typical savings of about $14,000 on energy bills over 20 years, many homeowners in New Brunswick find investing in solar can be quite rewarding.

You can click the button below to get connected with a vetted solar company in New Brunswick for a quote for your home.

Solar savings over time in New Brunswick

Year Return on Investment
1 years $-8,360
3 years $-6,932
5 years $-5,504
7 years $-4,076
9 years $-2,648
11 years $-1,220
13 years $208
15 years $1,636
17 years $3,064
19 years $4,492
21 years $5,920
23 years $7,348
25 years $8,776

Top Solar Installers in New Brunswick

Trying to put up solar panels yourself can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Solar warranties and repairs are often included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your upfront investment.

There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in New Brunswick

Factors that Affect Solar Panel Costs in New Brunswick

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in New Brunswick: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.

Solar Equipment Size

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size. Solar power systems with better efficiency or power generation use 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 $2,770. The type of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.

Solar Financing Terms

If paying for a solar system in cash is too expensive, solar loans are a solid option because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your overall costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar panel installer you pick will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.

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 $10,786 13.2 years
8 kW $2.83 $15,822 $14,691 13.0 years
10 kW $2.77 $19,390 $18,752 12.7 years
12 kW $2.71 $22,803 $22,968 12.5 years
14 kW $2.66 $26,060 $27,338 12.2 years
16 kW $2.60 $29,163 $31,864 11.9 years
18 kW $2.55 $32,110 $36,546 11.7 years
20 kW $2.49 $34,902 $41,382 11.4 years

Solar Incentives in New Brunswick

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are a large number of companies to choose from in New Brunswick, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
  • Installation Process: An important thing to understand when going solar 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 secure and what the project timeline is.
  • Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's New Brunswick, NJ Solar Cost FAQs

How much does it cost to install solar panels in New Brunswick?

The average cost of solar panels in New Brunswick 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 such as the kind of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily 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 install 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.

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