Solar Panel Cost Guide in Pompton Lakes, NJ (2023 Update)
- Pompton Lakes Solar Installation Cost: $9,249
- 25-Year Savings: $8,089
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Pompton Lakes
Let's have a look at the average cost of solar in Pompton Lakes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Pompton Lakes, the average cost of solar panels is 2.77 per watt. The average solar panel system size in Pompton Lakes is around 4.8 kilowatts, meaning a cost of about $9,249 for a solar installation, or $13,226 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Pompton Lakes homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar company in Pompton Lakes that can help you get a more accurate cost estimate for your home.
Solar savings over time in Pompton Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-8,555 |
| 3 years | $-7,168 |
| 5 years | $-5,781 |
| 7 years | $-4,394 |
| 9 years | $-3,007 |
| 11 years | $-1,620 |
| 13 years | $-233 |
| 15 years | $1,154 |
| 17 years | $2,541 |
| 19 years | $3,928 |
| 21 years | $5,315 |
| 23 years | $6,702 |
| 25 years | $8,089 |
Top Solar Installers in Pompton Lakes
Putting up solar panels on your own can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, particularly if you aren't sure what type of solar equipment would be right for your home.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Pompton Lakes
Factors that Affect Solar Panel Costs in Pompton Lakes
The cost of installing a solar system in Pompton Lakes can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your home, 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 about $2,770. The kind of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Pompton Lakes provide solar loans, which reduce your upfront costs of installing solar panels. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Pompton Lakes, and each can charge varying amounts for labor and equipment. Additionally, some companies in Pompton Lakes are more knowledgeable about local solar incentives and can help you take advantage of 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 | $2.88 | $12,099 | $9,688 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,228 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,923 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,773 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,778 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $28,938 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,254 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,724 | 12.0 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Pompton Lakes, NJ Solar Cost FAQs
How much does it cost to install solar panels in Pompton Lakes?
The average cost of solar panels in Pompton Lakes is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual 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.
Are solar panels free in Pompton Lakes?
Solar panels aren't free in Pompton Lakes, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Pompton Lakes?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.