Solar Panel Cost Guide in Ramsey, NJ (Sep 2022)

  • Ramsey Solar Installation Cost: $9,055
  • 25-Year Savings: $9,053
  • Payback Period: 12.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Ramsey

We break down average solar pricing in Ramsey.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Ramsey, the typical cost of a solar system is $3 per watt. Because a 4.7-kW system is needed to cover the energy usage of a typical home in Ramsey, the average price of going solar will be about $9,055 before claiming the federal solar tax credit of 30%.

The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront investment in solar is worth paying. On average Ramsey homeowners see about $15,000 in savings on electricity bills over 20 years.

To get a free estimate from a top solar installer in Ramsey, you can click the button below.

Solar savings over time in Ramsey

Year Return on Investment
1 years $-8,331
3 years $-6,882
5 years $-5,434
7 years $-3,985
9 years $-2,536
11 years $-1,088
13 years $361
15 years $1,810
17 years $3,258
19 years $4,707
21 years $6,155
23 years $7,604
25 years $9,053

Top Solar Installers in Ramsey

When switching to solar energy, many homeowners opt to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.

If you'd like to go solar but still aren't sure which solar panel company to go with, here are our recommendations for providers 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 Technology

The Green Panel

★★★★★
4.5

  • 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 Ramsey

Factors that Affect Solar Panel Costs in Ramsey

For many Ramsey homeowners, the decision to adopt solar energy depends on 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 several factors that significantly influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size. Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Ramsey homeowners decide to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Ramsey, and each can charge different amounts for labor and equipment. Companies that 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 find a 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 $11,187 13.0 years
8 kW $2.83 $15,822 $15,227 12.7 years
10 kW $2.77 $19,390 $19,421 12.5 years
12 kW $2.71 $22,803 $23,771 12.2 years
14 kW $2.66 $26,060 $28,275 12.0 years
16 kW $2.60 $29,163 $32,935 11.7 years
18 kW $2.55 $32,110 $37,750 11.5 years
20 kW $2.49 $34,902 $42,720 11.2 years

Solar Incentives in Ramsey

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Different companies have various brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
  • Installation Process: Make sure you're aligned with the company regarding 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.
  • Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.

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 Technology

The Green Panel

★★★★★
4.5

  • 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 Ramsey, NJ Solar Cost FAQs

How much does it cost to install solar panels in Ramsey?

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

Are solar panels free in Ramsey?

Solar panels aren't free in Ramsey, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Does Ramsey have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily 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 cover 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.

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