Solar Panel Cost Guide in Princeton Meadows, NJ (2024 Update)
- Princeton Meadows Solar Installation Cost: $11,564
- 25-Year Savings: $8,220
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Princeton Meadows
Let’s take a look at the average cost of solar panels in Princeton Meadows.
The average cost of a solar panel system in Princeton Meadows is 4 per watt.The average Princeton Meadows homeowner needs a 4.7-kilowatt system, which would cost about $11,564 with the federal tax credit, or $16,537 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with.Even with the high upfront cost, the average Princeton Meadows homeowner can save about $14,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free quote from a vetted solar company in Princeton Meadows, you can click the button below.
Solar savings over time in Princeton Meadows
| Year | Return on Investment |
|---|---|
| 1 years | $-10,323 |
| 3 years | $-7,842 |
| 5 years | $-5,360 |
| 7 years | $-2,879 |
| 9 years | $-397 |
| 11 years | $2,084 |
| 13 years | $4,566 |
| 15 years | $7,048 |
| 17 years | $9,529 |
| 19 years | $12,011 |
| 21 years | $14,492 |
| 23 years | $16,974 |
| 25 years | $19,455 |
Top Solar Installers in Princeton Meadows
Although you can install solar panels by yourself, it takes extra effort and handiness. That's why the majority of homeowners choose a solar panel installer. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Princeton Meadows
Factors that Affect Solar Panel Costs in Princeton Meadows
Though the average cost of a solar system in Princeton Meadows is $11,564, your actual cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Princeton Meadows to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $6,754 | 17.4 years |
| 8 kW | $3.60 | $20,163 | $9,400 | 17.1 years |
| 10 kW | $3.53 | $24,710 | $12,245 | 16.7 years |
| 12 kW | $3.46 | $29,059 | $15,287 | 16.4 years |
| 14 kW | $3.39 | $33,210 | $18,526 | 16.0 years |
| 16 kW | $3.32 | $37,164 | $21,964 | 15.7 years |
| 18 kW | $3.25 | $40,920 | $25,599 | 15.4 years |
| 20 kW | $3.18 | $44,478 | $29,432 | 15.0 years |
How to Save on Solar Panels
There are a large number of companies available in Princeton Meadows, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: If you’re worried about the endurance of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
Best National Provider
SunPower
- 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
- 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 Princeton Meadows, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Princeton Meadows?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 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 choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Princeton Meadows?
You can’t get solar panels for free in Princeton Meadows. However, you may still be able to install 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 how much your home is worth?
Solar panels can increase the value of your home considerably 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% with a solar installation."
How many solar panels should I get 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 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 get 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.