Solar Panel Cost Guide in Rahway, NJ (2023 Update)
- Rahway Solar Installation Cost: $9,046
- 25-Year Savings: $8,804
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rahway
We break down average solar pricing in Rahway.
While the national average of solar panels is $2.66 per watt, solar panels in Rahway typically cost around 2.77. The average solar panel system size in Rahway is around 4.7 kilowatts, meaning a cost of about $9,055 for a solar installation, or $12,949 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Rahway depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Rahway see about $15,000 in savings on electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Rahway
| Year | Return on Investment |
|---|---|
| 1 years | $-7,624 |
| 3 years | $-4,779 |
| 5 years | $-1,935 |
| 7 years | $910 |
| 9 years | $3,755 |
| 11 years | $6,600 |
| 13 years | $9,444 |
| 15 years | $12,289 |
| 17 years | $15,134 |
| 19 years | $17,979 |
| 21 years | $20,823 |
| 23 years | $23,668 |
| 25 years | $26,513 |
Top Solar Installers in Rahway
Many homeowners choose to use a solar installation company since trying to install solar panels on your own can be challenging. A solar company can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our suggestions for providers in Rahway:
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 Rahway
Factors that Affect Solar Panel Costs in Rahway
There are several factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,770 per kilowatt in Rahway. There are a lot of different solar panel brands and the one you choose also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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 remarkably.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Rahway, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $10,857 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,786 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,870 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,110 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,504 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,054 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,759 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,619 | 11.4 years |
How to Save on Solar Panels
The solar panel company you go with will impact 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 some important things you should keep in mind, including:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 Rahway, NJ Solar Cost FAQs
How much does it cost to install solar panels in Rahway?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Rahway?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is going 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 the amount of 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 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.