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
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Average Cost of Solar Panels in Ramsey
Let’s take a look at the average cost of solar panels in Ramsey.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ramsey, the average cost of a solar system is 4 per watt.Since 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 $11,529 after claiming the federal solar tax credit of 0.
The true price you pay can go above or below the average in Ramsey depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a fruitful investment. The average homeowner in Ramsey can save about $15,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Ramsey for a quote for your home.
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
Many homeowners decide to use a solar installer since trying to install solar panels by yourself can be a labor-intensive endeavor. Plus, if you aren’t sure what kind of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Ramsey:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 adopt solar energy rests 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 numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Ramsey average.
Solar Financing Terms
Many homeowners find the average cost of solar in Ramsey to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger 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 solar panel installer you select will affect your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Some companies only sell high-efficiency and high-priced 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 find a company that has the products, warranties and services you’re looking for 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 | $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
The company that does your solar system installation will affect the warranties and brands you have access to, 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: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- 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 Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Ramsey?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
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 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.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires 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.