Solar Panel Cost Guide in Ramsey, NJ (2024 Update)

  • Ramsey Solar Installation Cost: $11,529
  • 25-Year Savings: $9,061
  • Payback Period: 15.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Ramsey

Let’s take a look at the average cost of solar panels in Ramsey.

While the national average of solar panels is $2.66 per watt, solar panels in Ramsey generally cost about 4.The average Ramsey homeowner needs a 4.7-kilowatt system, which would cost about $11,529 with the federal tax credit, or $16,486 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find adopting solar power is a solid investment. The average homeowner in Ramsey can save around $15,000 on their electricity bills over 20 years.

Click the button below to get connected to a highly rated solar panel company in Ramsey for a custom quote.

Solar savings over time in Ramsey

Year Return on Investment
1 years $-10,175
3 years $-7,468
5 years $-4,761
7 years $-2,053
9 years $654
11 years $3,361
13 years $6,068
15 years $8,775
17 years $11,483
19 years $14,190
21 years $16,897
23 years $19,604
25 years $22,312

Top Solar Installers in Ramsey

Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using a solar company can make converting to solar power much easier. The expertise that solar installers offer can be helpful as well, especially if you don’t quite know what brand of solar equipment you need.

You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Ramsey

Factors that Affect Solar Panel Costs in Ramsey

For many Ramsey 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 Ramsey, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,530. There are several different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you want 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

Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Ramsey homeowners opt to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

Finally, the company you choose to install your solar panels can affect how much it costs. Ramsey’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 $7,868 16.6 years
8 kW $3.60 $20,163 $10,886 16.2 years
10 kW $3.53 $24,710 $14,101 15.9 years
12 kW $3.46 $29,059 $17,514 15.6 years
14 kW $3.39 $33,210 $21,125 15.3 years
16 kW $3.32 $37,164 $24,934 15.0 years
18 kW $3.25 $40,920 $28,940 14.6 years
20 kW $3.18 $44,478 $33,144 14.3 years

How to Save on Solar Panels

Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
  • Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Ramsey, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Ramsey?

The average cost of solar panels in Ramsey 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 things like the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Ramsey?

Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

How much can I save on power bills after installing solar panels?

It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Ramsey, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.

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