Solar Panel Cost Guide in Old Bridge, NJ (2023 Update)
- Old Bridge Solar Installation Cost: $9,075
- 25-Year Savings: $7,479
- Payback Period: 13.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Old Bridge
Find out what the average cost of a solar system is in Old Bridge.
Although the national average of solar panels is $2.66 per watt, solar panels in Old Bridge typically cost about 2.77. To account for the typical energy usage of the average home in Old Bridge, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,075, or $12,977 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want, your solar contractor and more. Despite the large upfront cost, the average Old Bridge homeowner can save about $13,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar installer in your area for a custom quote.
Solar savings over time in Old Bridge
| Year | Return on Investment |
|---|---|
| 1 years | $-8,412 |
| 3 years | $-7,088 |
| 5 years | $-5,764 |
| 7 years | $-4,439 |
| 9 years | $-3,115 |
| 11 years | $-1,791 |
| 13 years | $-466 |
| 15 years | $858 |
| 17 years | $2,182 |
| 19 years | $3,507 |
| 21 years | $4,831 |
| 23 years | $6,155 |
| 25 years | $7,479 |
Top Solar Installers in Old Bridge
Many homeowners opt for a solar panel company since installing solar panels on your own can be a lot of work. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for your home.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Old Bridge
Factors that Affect Solar Panel Costs in Old Bridge
Even though the average cost of a solar system in Old Bridge is $9,075, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Old Bridge, where sunlight is relatively abundant, efficiency can quickly pay off. Also, 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
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Old Bridge, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Old Bridge, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $9,124 | 14.3 years |
| 8 kW | $2.83 | $15,822 | $12,475 | 14.0 years |
| 10 kW | $2.77 | $19,390 | $15,982 | 13.7 years |
| 12 kW | $2.71 | $22,803 | $19,644 | 13.4 years |
| 14 kW | $2.66 | $26,060 | $23,461 | 13.2 years |
| 16 kW | $2.60 | $29,163 | $27,433 | 12.9 years |
| 18 kW | $2.55 | $32,110 | $31,560 | 12.6 years |
| 20 kW | $2.49 | $34,902 | $35,842 | 12.3 years |
How to Save on Solar Panels
There are many companies to choose from in Old Bridge, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry various brands and types of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: Review the contract terms carefully to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Old Bridge, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Old Bridge?
The average cost of solar panels in Old Bridge 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 like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Does Old Bridge have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can 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.