Solar Panel Cost Guide in Parsippany Troy Hills, NJ (Sep 2022)

  • Parsippany Troy Hills Solar Installation Cost: $9,268
  • 25-Year Savings: $8,009
  • Payback Period: 13.4 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Parsippany Troy Hills

Let's take a look at the average cost of solar in Parsippany Troy Hills.

While the national average of solar panels is $2.66 per watt, solar panels in Parsippany Troy Hills generally cost around $3. The average Parsippany Troy Hills homeowner needs a 4.8-kilowatt system, which would cost about $9,268, or $6,858 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. For many homeowners, the upfront investment in solar panels is worth paying. On average Parsippany Troy Hills homeowners see about $14,000 in savings on utility bills over 20 years.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Parsippany Troy Hills

Year Return on Investment
1 years $-8,577
3 years $-7,195
5 years $-5,813
7 years $-4,431
9 years $-3,049
11 years $-1,667
13 years $-284
15 years $1,098
17 years $2,480
19 years $3,862
21 years $5,244
23 years $6,626
25 years $8,009

Top Solar Installers in Parsippany Troy Hills

Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make converting to solar power much easier. The expertise that solar companies provide can be helpful as well, especially if you don't quite know what brand of solar equipment would be right for your home.

If you're looking for a solar company in Parsippany Troy Hills, the EcoWatch team has compiled a list of our top suggestions here:

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 Parsippany Troy Hills

Factors that Affect Solar Panel Costs in Parsippany Troy Hills

There are many factors that can determine your 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 Size

The size of the system you need is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The type of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond 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 researching a solar system that's in your budget.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Parsippany Troy Hills, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to factor 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 solar company you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating in Parsippany Troy Hills, and each can charge varying amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to 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 discount can bring their pricing lower to compete with bigger 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 $9,594 13.9 years
8 kW $2.83 $15,822 $13,102 13.7 years
10 kW $2.77 $19,390 $16,765 13.4 years
12 kW $2.71 $22,803 $20,583 13.1 years
14 kW $2.66 $26,060 $24,557 12.9 years
16 kW $2.60 $29,163 $28,685 12.6 years
18 kW $2.55 $32,110 $32,969 12.3 years
20 kW $2.49 $34,902 $37,408 12.1 years

Solar Incentives in Parsippany Troy Hills

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many companies to choose from in Parsippany Troy Hills, 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:

  • Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.

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 Parsippany Troy Hills, NJ Solar Cost FAQs

How much does it cost to install solar panels in Parsippany Troy Hills?

This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.

Are solar panels free in Parsippany Troy Hills?

You can't get solar panels for free in Parsippany Troy Hills. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $723.10 per year.

How many solar panels do I need to power 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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