Solar Panel Cost Guide in Northvale, NJ (Aug 2022)

  • Northvale Solar Installation Cost: $9,573
  • 25-Year Savings: $8,535
  • Payback Period: 13.2 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Northvale

Find out what the average cost of installing solar panels is in Northvale.

Although the national average of solar panels is $2.66 per watt, solar panels in Northvale generally cost about $3. The average solar panel system size in Northvale is around 4.7 kilowatts, meaning a cost of about $9,573 for a solar installation, or $7,084 after the federal solar 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 equipment you want, your solar contractor and more. Despite the large upfront cost, the average Northvale homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the perks of solar.

You can click the button below to get connected with a vetted solar company in Northvale that can help you get a more accurate cost estimate for your home.

Solar savings over time in Northvale

Year Return on Investment
1 years $-8,848
3 years $-7,400
5 years $-5,951
7 years $-4,502
9 years $-3,054
11 years $-1,605
13 years $-157
15 years $1,292
17 years $2,741
19 years $4,189
21 years $5,638
23 years $7,087
25 years $8,535

Top Solar Installers in Northvale

When making the switch to solar, many homeowners opt to go with a solar installer since installing solar panels yourself can be a time-consuming project. The payback period on an investment in solar panels will vary depending on factors like your location and energy needs, but going with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.

Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:

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 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 biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment Size

The size of the solar energy system you need for your household 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. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Many homeowners find the average cost of solar in Northvale to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time because of interest. Even though solar loans make switching to solar energy more accessible for Northvale homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The last key cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Northvale, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fits 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 $2.88 $12,791 $10,496 13.7 years
8 kW $2.83 $16,726 $14,322 13.5 years
10 kW $2.77 $20,498 $18,313 13.2 years
12 kW $2.71 $24,106 $22,468 12.9 years
14 kW $2.66 $27,549 $26,786 12.7 years
16 kW $2.60 $30,829 $31,269 12.4 years
18 kW $2.55 $33,945 $35,915 12.1 years
20 kW $2.49 $36,896 $40,726 11.9 years

Solar Incentives in Northvale

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:

  • Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
  • 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 acquire and what the project timeline is.
  • Warranty: If you're concerned about the durability of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Solar Panel Brands: Different companies have different brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.

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 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 real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.

Should I lease or buy solar panels in Northvale?

Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

Does Northvale have a net metering program?

The majority of states offer 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 electricity 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?

The exact number of solar panels you need depends on your household energy usage and how much 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 get between 20 and 35 panels to cover 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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