Solar Panel Cost Guide in Pompton Lakes, NJ (2024 Update)
- Pompton Lakes Solar Installation Cost: $11,798
- 25-Year Savings: $8,080
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Pompton Lakes
Find out how much it might cost to install solar panels in Pompton Lakes.
The national average cost of solar panels is $2.66 per watt, but in Pompton Lakes it’s 4 per watt.The average solar panel system size in Pompton Lakes is around 4.8 kilowatts, meaning a cost of about $11,798 for a solar installation, or $16,871 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Even with the significant upfront cost, the average Pompton Lakes homeowner can save around $14,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free estimate from a vetted solar company in Pompton Lakes, you can click the button below.
Solar savings over time in Pompton Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,739 |
| 3 years | $-8,620 |
| 5 years | $-6,502 |
| 7 years | $-4,384 |
| 9 years | $-2,265 |
| 11 years | $-147 |
| 13 years | $1,972 |
| 15 years | $4,090 |
| 17 years | $6,208 |
| 19 years | $8,327 |
| 21 years | $10,445 |
| 23 years | $12,564 |
| 25 years | $14,682 |
Top Solar Installers in Pompton Lakes
Many homeowners choose to use a solar panel company since trying to install solar panels on your own can be hard. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Pompton Lakes
Factors that Affect Solar Panel Costs in Pompton Lakes
Even though the average cost of a solar system in Pompton Lakes is $11,798, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately gauge 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 largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, 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 for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Pompton Lakes have solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of loans, including the amount of 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Pompton Lakes, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $6,369 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,887 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,603 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,517 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,628 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,937 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,444 | 15.7 years |
| 20 kW | $3.18 | $44,478 | $28,148 | 15.3 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand 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 offerings before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Pompton Lakes, NJ Solar Cost FAQs
How much does it cost to install solar panels in Pompton Lakes?
This is a tough question to answer exactly, because the cost depends on many 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 higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to bear 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 Pompton Lakes?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How many solar panels should I get to power 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 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 account for 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.