Solar Panel Cost Guide in Paterson, NJ (2024 Update)
- Paterson Solar Installation Cost: $11,798
- 25-Year Savings: $8,626
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in Paterson
We go over average solar pricing in Paterson.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Paterson, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.8-kW system would cost about $11,798 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on your specific situation and what company you choose to go with.For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Paterson see about $14,000 in savings on utility bills over 20 years.
To get a free quote from a top solar installation company in Paterson, you can click the button below.
Solar savings over time in Paterson
| 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 Paterson
When making the switch to solar, many homeowners prefer to go with a solar installer since DIY solar panel installation can be a time-consuming project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance in the long run.
If you're looking for a solar installer in Paterson, we've compiled a list of our top suggestions here:
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Paterson
Factors that Affect Solar Panel Costs in Paterson
Even though the average cost of a solar system in Paterson is $11,798, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Paterson, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Paterson to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.Though solar loans make adopting solar energy more accessible for Paterson homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that has the products, warranties and services you’re looking for and also is within your budget.
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 | $7,055 | 17.2 years |
| 8 kW | $3.60 | $20,163 | $9,802 | 16.8 years |
| 10 kW | $3.53 | $24,710 | $12,746 | 16.5 years |
| 12 kW | $3.46 | $29,059 | $15,889 | 16.2 years |
| 14 kW | $3.39 | $33,210 | $19,229 | 15.8 years |
| 16 kW | $3.32 | $37,164 | $22,766 | 15.5 years |
| 18 kW | $3.25 | $40,920 | $26,501 | 15.2 years |
| 20 kW | $3.18 | $44,478 | $30,434 | 14.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 research your installer’s reputation is by reading reviews.
- Contract: When looking through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Paterson, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Paterson?
This is a tough question to answer precisely, because the cost depends on a few different 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 cost more if you want additional solar equipment or more efficient 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 less efficient solar panels.
Should I lease or buy solar panels in Paterson?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Paterson?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 stop working completely at that time. What this means is their energy production 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.