Solar Panel Cost Guide in Passaic, NJ (2024 Update)
- Passaic Solar Installation Cost: $11,798
- 25-Year Savings: $8,592
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Passaic
We go over average solar pricing in Passaic.
The national average cost of solar panels is $2.66 per watt, but in Passaic it’s 4 per watt.The average solar panel system size in Passaic is around 4.8 kilowatts, meaning a cost of about $11,798 for a solar installation, or $16,871 before the 0 federal solar tax credit is applied.
The actual price you pay can go above or below the average in Passaic based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $14,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in Passaic that can help you get a more accurate cost estimate for your home.
Solar savings over time in Passaic
| Year | Return on Investment |
|---|---|
| 1 years | $-10,376 |
| 3 years | $-7,531 |
| 5 years | $-4,686 |
| 7 years | $-1,841 |
| 9 years | $1,003 |
| 11 years | $3,848 |
| 13 years | $6,693 |
| 15 years | $9,537 |
| 17 years | $12,382 |
| 19 years | $15,227 |
| 21 years | $18,072 |
| 23 years | $20,916 |
| 25 years | $23,761 |
Top Solar Installers in Passaic
When making the switch to solar, many homeowners decide to hire a solar installer since installing a solar system yourself can be a difficult project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Passaic
Factors that Affect Solar Panel Costs in Passaic
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Passaic: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far 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 Passaic to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can impact how much it costs. Passaic’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Passaic have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $7,013 | 17.2 years |
| 8 kW | $3.60 | $20,163 | $9,745 | 16.9 years |
| 10 kW | $3.53 | $24,710 | $12,676 | 16.5 years |
| 12 kW | $3.46 | $29,059 | $15,804 | 16.2 years |
| 14 kW | $3.39 | $33,210 | $19,130 | 15.9 years |
| 16 kW | $3.32 | $37,164 | $22,654 | 15.5 years |
| 18 kW | $3.25 | $40,920 | $26,375 | 15.2 years |
| 20 kW | $3.18 | $44,478 | $30,294 | 14.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you need plays a role in which installer you should opt for, since different companies have access to different panels.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the completion timeline.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
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 Passaic, NJ Solar Cost FAQs
How much does it cost to install solar panels in Passaic?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Passaic?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property 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 bang for your buck from going solar.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $747.72 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to 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.