Solar Panel Cost Guide in Northvale, NJ (2023 Update)
- Northvale Solar Installation Cost: $9,055
- 25-Year Savings: $9,053
- Payback Period: 12.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Northvale
We go over average solar pricing in Northvale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Northvale, the average cost of solar panels is 2.77 per watt. To account for the typical energy usage of the average home in Northvale, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
These figures are only estimates, and the cost of going solar for you will most likely differ based on your energy needs and what company you choose to go with. With typical savings of about $15,000 on electricity bills over 20 years, many homeowners in Northvale find going solar can be quite rewarding.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Northvale
| Year | Return on Investment |
|---|---|
| 1 years | $-8,331 |
| 3 years | $-6,882 |
| 5 years | $-5,434 |
| 7 years | $-3,985 |
| 9 years | $-2,536 |
| 11 years | $-1,088 |
| 13 years | $361 |
| 15 years | $1,810 |
| 17 years | $3,258 |
| 19 years | $4,707 |
| 21 years | $6,155 |
| 23 years | $7,604 |
| 25 years | $9,053 |
Top Solar Installers in Northvale
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make your swap to solar power much easier. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for you.
If you're searching for a solar company in Northvale, the EcoWatch team has organized 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 Northvale
Factors that Affect Solar Panel Costs in Northvale
The cost of installing a solar system in Northvale can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Northvale, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Northvale, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Northvale have solar loans, which reduce the initial cost of installing a solar system. Although solar loans make adopting solar energy more accessible for Northvale homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Northvale is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that provide a range of services for different budgets. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $11,187 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,227 | 12.7 years |
| 10 kW | $2.77 | $19,390 | $19,421 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,771 | 12.2 years |
| 14 kW | $2.66 | $26,060 | $28,275 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,935 | 11.7 years |
| 18 kW | $2.55 | $32,110 | $37,750 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,720 | 11.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- 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.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing 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 Northvale, NJ Solar Cost FAQs
How much does it cost to install solar panels in Northvale?
The average cost of solar panels in Northvale 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 kind 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 Northvale?
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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How will having solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Northvale is currently $467,700, which means you can expect a value of about $19,176 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Northvale is a rewarding investment.
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 should be disposed of 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 once you've had 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.