Solar Panel Cost Guide in Pine Lake Park, NJ (2024 Update)

  • Pine Lake Park Solar Installation Cost: $10,964
  • 25-Year Savings: $9,772
  • Payback Period: 14.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Pine Lake Park

Find out what the average cost of solar panels are in Pine Lake Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Pine Lake Park, the average cost of a solar system is 4 per watt.Using this figure, a typical 4.4-kW system would cost about $10,964 before the 0 federal solar tax credit is applied.

The true cost of your system can go above or below the average in Pine Lake Park based on a few factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $16,000 on power bills over 20 years, many homeowners in Pine Lake Park find going solar has a decent ROI.

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

Solar savings over time in Pine Lake Park

Year Return on Investment
1 years $-9,686
3 years $-7,128
5 years $-4,571
7 years $-2,014
9 years $544
11 years $3,101
13 years $5,659
15 years $8,216
17 years $10,773
19 years $13,331
21 years $15,888
23 years $18,445
25 years $21,003

Top Solar Installers in Pine Lake Park

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make swapping over to solar power much easier. Another perk of using a solar installer is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 for Leasing

Sunrun

★★★★★
4.0

  • 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 Pine Lake Park

Factors that Affect Solar Panel Costs in Pine Lake Park

There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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

Most solar companies in Pine Lake Park have solar loans, which reduce your upfront costs of installing solar panels.Although solar loans make switching to solar energy more accessible for Pine Lake Park homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Pine Lake Park, and each can charge varying amounts for labor and equipment.Additionally, some companies in Pine Lake Park know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 $9,429 15.5 years
8 kW $3.60 $20,163 $12,967 15.2 years
10 kW $3.53 $24,710 $16,703 14.9 years
12 kW $3.46 $29,059 $20,636 14.6 years
14 kW $3.39 $33,210 $24,768 14.3 years
16 kW $3.32 $37,164 $29,097 14.0 years
18 kW $3.25 $40,920 $33,623 13.7 years
20 kW $3.18 $44,478 $38,348 13.4 years

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose considerably influences your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
  • Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.

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 for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Pine Lake Park, NJ Solar Cost FAQs

How much does it cost to install solar panels in Pine Lake Park?

The average cost of solar panels in Pine Lake Park is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Pine Lake Park?

Leasing solar panels can be an attractive 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.

Does Pine Lake Park have a net metering program?

Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.

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