Solar Panel Cost Guide in North Caldwell, NJ (2023 Update)
- North Caldwell Solar Installation Cost: $9,171
- 25-Year Savings: $7,846
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in North Caldwell
Let's take a look at the average cost of solar panels in North Caldwell.
Although the national average of solar panels is $2.66 per watt, solar panels in North Caldwell generally cost around 2.77. The average solar panel system size in North Caldwell is around 4.7 kilowatts, meaning a cost of about $9,171 for a solar installation, or $13,115 before the 30% federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may differ based on your energy needs and what company you choose to go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in North Caldwell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,491 |
| 3 years | $-7,129 |
| 5 years | $-5,768 |
| 7 years | $-4,407 |
| 9 years | $-3,045 |
| 11 years | $-1,684 |
| 13 years | $-323 |
| 15 years | $1,039 |
| 17 years | $2,400 |
| 19 years | $3,761 |
| 21 years | $5,123 |
| 23 years | $6,484 |
| 25 years | $7,846 |
Top Solar Installers in North Caldwell
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
If you're on the hunt for a solar company in North Caldwell, 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
See all of the solar companies in North Caldwell
Factors that Affect Solar Panel Costs in North Caldwell
For many North Caldwell homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in North Caldwell, 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 size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. There are a lot of different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many North Caldwell homeowners opt to finance their solar panel systems to make going solar more affordable. Even though solar loans make switching to solar energy more accessible for North Caldwell homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in North Caldwell have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save 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 | $2.88 | $12,099 | $9,479 | 14.0 years |
| 8 kW | $2.83 | $15,822 | $12,949 | 13.7 years |
| 10 kW | $2.77 | $19,390 | $16,574 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,354 | 13.2 years |
| 14 kW | $2.66 | $26,060 | $24,289 | 12.9 years |
| 16 kW | $2.60 | $29,163 | $28,380 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,625 | 12.4 years |
| 20 kW | $2.49 | $34,902 | $37,026 | 12.1 years |
How to Save on Solar Panels
The solar installer you opt for will impact 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 consider, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the completion timeline.
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 Caldwell, NJ Solar Cost FAQs
How much does it cost to install solar panels in North Caldwell?
The average cost of solar panels in North Caldwell is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in North Caldwell?
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 their energy production will have decreased significantly after that point. You can choose 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.