Solar Panel Cost Guide in Princeton Meadows, NJ (Mar 2023)
- Princeton Meadows Solar Installation Cost: $9,075
- 25-Year Savings: $8,220
- Payback Period: 13.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Princeton Meadows
Let's take a look at the average cost of solar in Princeton Meadows.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Princeton Meadows, the average cost of solar panels is 2.77 per watt. Using this figure, a typical 4.7-kW system would cost about $9,075 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 Princeton Meadows homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Princeton Meadows that can help you get a more accurate cost estimate for your home.
Solar savings over time in Princeton Meadows
| Year | Return on Investment |
|---|---|
| 1 years | $-8,383 |
| 3 years | $-6,999 |
| 5 years | $-5,616 |
| 7 years | $-4,232 |
| 9 years | $-2,848 |
| 11 years | $-1,465 |
| 13 years | $-81 |
| 15 years | $1,302 |
| 17 years | $2,686 |
| 19 years | $4,069 |
| 21 years | $5,453 |
| 23 years | $6,837 |
| 25 years | $8,220 |
Top Solar Installers in Princeton Meadows
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be hard. The expertise that solar companies offer can be valuable as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you'd like to make the switch to solar but still aren't sure which solar panel company to go with, here are our recommendations for providers nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Princeton Meadows
Factors that Affect Solar Panel Costs in Princeton Meadows
While the average cost of a solar system in Princeton Meadows is $9,075, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar system in Princeton Meadows, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Typically, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you're looking to install 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
Most solar companies in Princeton Meadows offer solar loans, which reduce the initial cost 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can influence how much it costs. Princeton Meadows' solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you want and also fits within your budget.
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 | $10,074 | 13.6 years |
| 8 kW | $2.83 | $15,822 | $13,742 | 13.4 years |
| 10 kW | $2.77 | $19,390 | $17,565 | 13.1 years |
| 12 kW | $2.71 | $22,803 | $21,543 | 12.9 years |
| 14 kW | $2.66 | $26,060 | $25,677 | 12.6 years |
| 16 kW | $2.60 | $29,163 | $29,965 | 12.3 years |
| 18 kW | $2.55 | $32,110 | $34,409 | 12.1 years |
| 20 kW | $2.49 | $34,902 | $39,008 | 11.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Princeton Meadows, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Princeton Meadows?
The average cost of solar panels in Princeton Meadows 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Princeton Meadows?
Solar panels aren't free in Princeton Meadows, but there are some options that can make getting them more viable, 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 making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Princeton Meadows?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.