Solar Panel Cost Guide in Nutley, NJ (2024 Update)
- Nutley Solar Installation Cost: $11,692
- 25-Year Savings: $8,676
- Payback Period: 16.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Nutley
Find out what the average cost of solar panels are in Nutley.
The national average cost of solar panels is $2.66 per watt, but in Nutley it’s 4 per watt.Since a 4.7-kW system is needed to cover the energy usage of a typical home in Nutley, the average price of going solar will be about $11,692 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in Nutley can save around $14,000 on their power bills over 20 years.
To get a free estimate from a vetted solar company in Nutley, you can click the button below.
Solar savings over time in Nutley
| Year | Return on Investment |
|---|---|
| 1 years | $-10,270 |
| 3 years | $-7,425 |
| 5 years | $-4,580 |
| 7 years | $-1,735 |
| 9 years | $1,109 |
| 11 years | $3,954 |
| 13 years | $6,799 |
| 15 years | $9,644 |
| 17 years | $12,488 |
| 19 years | $15,333 |
| 21 years | $18,178 |
| 23 years | $21,022 |
| 25 years | $23,867 |
Top Solar Installers in Nutley
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make switching to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company too, which can save you more money after your upfront investment.
If you're searching for a solar company in Nutley, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Nutley
Factors that Affect Solar Panel Costs in Nutley
There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Nutley, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, 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 looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you pick will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Nutley are more knowledgeable 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 end up saving you 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 | $3.67 | $15,419 | $7,216 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $10,017 | 16.7 years |
| 10 kW | $3.53 | $24,710 | $13,015 | 16.4 years |
| 12 kW | $3.46 | $29,059 | $16,211 | 16.0 years |
| 14 kW | $3.39 | $33,210 | $19,605 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,196 | 15.4 years |
| 18 kW | $3.25 | $40,920 | $26,985 | 15.1 years |
| 20 kW | $3.18 | $44,478 | $30,972 | 14.7 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Nutley, NJ Solar Cost FAQs
How much does it cost to install solar panels in Nutley?
The average cost of solar panels in Nutley is about $17,650 for a 5-kW system and $35,300 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 consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Nutley?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.