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.
In Paterson, solar panels cost about 4 per watt on average.Using this figure, a typical 4.8-kW system would cost about $11,798 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Paterson homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Paterson can save around $14,000 on their electricity 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
Although you can install solar panels yourself, it takes extra time and knowledge. For that reason, the majority of homeowners choose a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you’d like to make the switch to solar but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
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 Paterson
Factors that Affect Solar Panel Costs in Paterson
The cost of installing a solar system in Paterson can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Paterson, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.Though solar loans make switching to solar energy more accessible for Paterson homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Paterson, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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
There are a large number of companies available in Paterson, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one indication of a good company.
- 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 likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 Paterson, NJ Solar Cost FAQs
How much does it cost to install solar panels in Paterson?
This is a tough question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want 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 appealing choice, as it commonly 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 going solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.