Solar Panel Cost Guide in Ramblewood, NJ (2023 Update)
- Ramblewood Solar Installation Cost: $8,939
- 25-Year Savings: $8,912
- Payback Period: 12.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ramblewood
Find out how much it might cost to install solar panels in Ramblewood.
While the national average of solar panels is $2.66 per watt, solar panels in Ramblewood generally cost about 2.77. The average solar panel system size in Ramblewood is around 4.6 kilowatts, meaning a cost of about $8,939 for a solar installation, or $12,783 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Ramblewood depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. With typical savings of about $15,000 on electricity bills over 20 years, many homeowners in Ramblewood find installing solar panels can pay off big.
You can click the button below to get connected with a top solar installer in Ramblewood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ramblewood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,225 |
| 3 years | $-6,797 |
| 5 years | $-5,369 |
| 7 years | $-3,941 |
| 9 years | $-2,513 |
| 11 years | $-1,085 |
| 13 years | $343 |
| 15 years | $1,772 |
| 17 years | $3,200 |
| 19 years | $4,628 |
| 21 years | $6,056 |
| 23 years | $7,484 |
| 25 years | $8,912 |
Top Solar Installers in Ramblewood
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring an installer can make converting to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you pick which one will be right for you.
If you're looking for a solar company in Ramblewood, the EcoWatch team has put together a list of our top suggestions here:
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 Ramblewood
Factors that Affect Solar Panel Costs in Ramblewood
Although the average cost of a solar system in Ramblewood is $8,939, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Ramblewood. The type of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Ramblewood homeowners choose to finance their solar panel systems to make paying for solar more affordable. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Ramblewood, you'll have many options to choose from, but each comes at varying price points for labor and equipment. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is 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 | $11,137 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,160 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,337 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,670 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $28,158 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,801 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,600 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,553 | 11.3 years |
How to Save on Solar Panels
There are a large number of companies available in Ramblewood, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Ramblewood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Ramblewood?
The average cost of solar panels in Ramblewood is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Ramblewood, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.