Solar Panel Cost Guide in North Bergen, NJ (2023 Update)
- North Bergen Solar Installation Cost: $8,922
- 25-Year Savings: $8,928
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Bergen
Find out what the average cost of installing solar panels is in North Bergen.
While the national average of solar panels is $2.66 per watt, solar panels in North Bergen generally cost about 2.77. The average North Bergen homeowner needs a 4.6-kilowatt system, which would cost about $8,919 with the federal tax credit, or $12,754 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more. But, after you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in North Bergen that can help you get a more accurate cost estimate for your home.
Solar savings over time in North Bergen
| Year | Return on Investment |
|---|---|
| 1 years | $-7,500 |
| 3 years | $-4,655 |
| 5 years | $-1,810 |
| 7 years | $1,034 |
| 9 years | $3,879 |
| 11 years | $6,724 |
| 13 years | $9,568 |
| 15 years | $12,413 |
| 17 years | $15,258 |
| 19 years | $18,103 |
| 21 years | $20,947 |
| 23 years | $23,792 |
| 25 years | $26,637 |
Top Solar Installers in North Bergen
Although it's possible to install solar panels by yourself, it takes extra labor and handiness. That's why almost all homeowners choose to go with a solar panel installer. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 North Bergen
Factors that Affect Solar Panel Costs in North Bergen
For many North Bergen homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in North Bergen, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need 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 kind of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions 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 looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid route because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Even though solar loans make adopting solar energy more accessible for North Bergen homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk 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 down 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 | $11,176 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,212 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,402 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,748 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,249 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,905 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,716 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,683 | 11.2 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
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 North Bergen, NJ Solar Cost FAQs
How much does it cost to install solar panels in North Bergen?
The average cost of solar panels in North Bergen 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in North Bergen?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in North Bergen, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
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 are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt 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.