Solar Panel Cost Guide in Palisades Park, NJ (Feb 2023)
- Palisades Park Solar Installation Cost: $9,055
- 25-Year Savings: $8,795
- Payback Period: 12.7 Years
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Top Solar Installers in Palisades Park
Although you can install solar panels by yourself, it involves extra effort and handiness. For that reason, the majority of homeowners choose to go with a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Palisades Park
Factors that Affect Solar Panel Costs in Palisades Park
For many Palisades Park homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Palisades Park, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
When it comes to estimating the cost of solar panels in Palisades Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, add-on products, like solar batteries, can bring your total well above the Palisades Park average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Palisades Park, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Palisades Park is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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||$10,856||13.2 years|
|8 kW||$2.83||$15,822||$14,785||12.9 years|
|10 kW||$2.77||$19,390||$18,870||12.7 years|
|12 kW||$2.71||$22,803||$23,109||12.4 years|
|14 kW||$2.66||$26,060||$27,503||12.2 years|
|16 kW||$2.60||$29,163||$32,053||11.9 years|
|18 kW||$2.55||$32,110||$36,757||11.7 years|
|20 kW||$2.49||$34,902||$41,617||11.4 years|
How to Save on Solar Panels
There are a lot of companies to choose from in Palisades Park, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
EcoWatch's Palisades Park, NJ Solar Cost FAQs
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.