Solar Panel Cost Guide in Princeton, NJ (2025 Update)
- Princeton Solar Installation Cost: $11,653
- 25-Year Savings: $8,706
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Princeton
See how much it might cost to install solar panels in Princeton.
In Princeton, solar panels cost about 4 per watt on average.The average solar panel system size in Princeton is around 4.7 kilowatts, meaning a cost of about $11,653 for a solar installation, or $16,664 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Princeton depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on power bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Princeton
| Year | Return on Investment |
|---|---|
| 1 years | $-10,231 |
| 3 years | $-7,386 |
| 5 years | $-4,541 |
| 7 years | $-1,697 |
| 9 years | $1,148 |
| 11 years | $3,993 |
| 13 years | $6,838 |
| 15 years | $9,682 |
| 17 years | $12,527 |
| 19 years | $15,372 |
| 21 years | $18,217 |
| 23 years | $21,061 |
| 25 years | $23,906 |
Top Solar Installers in Princeton
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make converting to solar power much easier. Another perk of working with a solar company is that they can help you optimize your investment by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
See all of the solar companies in Princeton
Factors that Affect Solar Panel Costs in Princeton
For many Princeton homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Princeton, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Princeton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past energy bills. Your total cost can increase by around $3,530 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Princeton homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your total costs, so it’s crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Princeton know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $7,292 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $10,117 | 16.6 years |
| 10 kW | $3.53 | $24,710 | $13,141 | 16.3 years |
| 12 kW | $3.46 | $29,059 | $16,362 | 16.0 years |
| 14 kW | $3.39 | $33,210 | $19,781 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,398 | 15.3 years |
| 18 kW | $3.25 | $40,920 | $27,212 | 15.0 years |
| 20 kW | $3.18 | $44,478 | $31,224 | 14.7 years |
How to Save on Solar Panels
There are many companies available in Princeton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: If you’re concerned about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
EcoWatch's Princeton, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Princeton?
The average cost of solar panels in Princeton 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Princeton?
You can’t get solar panels for free in Princeton. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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.