Solar Panel Cost Guide in Pequannock, NJ (2023 Update)
- Pequannock Solar Installation Cost: $9,268
- 25-Year Savings: $6,915
- Payback Period: 14.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pequannock
Let's have a look at the average cost of solar in Pequannock.
In Pequannock, solar panels cost about 2.77 per watt on average. Using this figure, a typical 4.8-kW system would cost about $9,268 before the 30% federal solar tax credit is applied.
These figures are just averages, and your own solar costs will look different based on factors unique to your home and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Pequannock can save about $13,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar company in Pequannock that can help you get a more accurate cost estimate for your home.
Solar savings over time in Pequannock
| Year | Return on Investment |
|---|---|
| 1 years | $-8,621 |
| 3 years | $-7,326 |
| 5 years | $-6,032 |
| 7 years | $-4,737 |
| 9 years | $-3,442 |
| 11 years | $-2,148 |
| 13 years | $-853 |
| 15 years | $442 |
| 17 years | $1,737 |
| 19 years | $3,031 |
| 21 years | $4,326 |
| 23 years | $5,621 |
| 25 years | $6,915 |
Top Solar Installers in Pequannock
Trying to install solar panels yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.
If you're searching for a solar company in Pequannock, the EcoWatch team has put together 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
See all of the solar companies in Pequannock
Factors that Affect Solar Panel Costs in Pequannock
For many Pequannock homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Pequannock, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,770 per kilowatt in Pequannock. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Pequannock average.
Solar Financing Terms
Most solar companies in Pequannock offer solar loans, which reduce the initial cost of installing solar panels. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Pequannock, you'll have many options to choose from, but each comes at different price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that offers 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 | $2.88 | $12,099 | $8,221 | 14.9 years |
| 8 kW | $2.83 | $15,822 | $11,271 | 14.6 years |
| 10 kW | $2.77 | $19,390 | $14,477 | 14.3 years |
| 12 kW | $2.71 | $22,803 | $17,838 | 14.0 years |
| 14 kW | $2.66 | $26,060 | $21,354 | 13.7 years |
| 16 kW | $2.60 | $29,163 | $25,025 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,851 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,832 | 12.9 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Pequannock, NJ Solar Cost FAQs
How much does it cost to install solar panels in Pequannock?
This is a difficult question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Pequannock?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.