Solar Panel Cost Guide in Randolph, NJ (Nov 2022)

  • Randolph Solar Installation Cost: $9,268
  • 25-Year Savings: $6,915
  • Payback Period: 14.3 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Randolph

We break down average solar pricing in Randolph.

The average cost of solar panels in Randolph is $3 per watt. To account for the typical energy needs of the average home in Randolph, most homeowners require a 4.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $9,268, or $6,858 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. Despite the significant upfront cost, the average Randolph homeowner can save around $13,000 on their electricity bills over 20 years, which is one of the perks of solar.

You can click the button below to get connected with a top solar installer in Randolph that can help you get a more accurate cost estimate for your home.

Solar savings over time in Randolph

Year Return on Investment
1 years $-8,621
3 years $-7,326
5 years $-6,032
7 years $-4,737
9 years $-3,442
11 years $-2,148
13 years $-853
15 years $442
17 years $1,737
19 years $3,031
21 years $4,326
23 years $5,621
25 years $6,915

Top Solar Installers in Randolph

When going solar, many homeowners choose to use a solar installation company since putting up a solar system yourself can be a difficult project. The expertise that solar installers offer can be valuable as well, especially if you don't quite know what type of solar equipment would be right for your home.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

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

Tesla Energy

★★★★★
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 Randolph

Factors that Affect Solar Panel Costs in Randolph

For many Randolph homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Randolph, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

Size is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you choose also changes the cost. Usually, the brands that offer higher efficiency tend to also be more expensive. Plus, 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

For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Randolph, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.

Solar Panel Installation Company

The solar panel installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $8,221 14.9 years
8 kW $2.83 $15,822 $11,271 14.6 years
10 kW $2.77 $19,390 $14,477 14.3 years
12 kW $2.71 $22,803 $17,838 14.0 years
14 kW $2.66 $26,060 $21,354 13.7 years
16 kW $2.60 $29,163 $25,025 13.5 years
18 kW $2.55 $32,110 $28,851 13.2 years
20 kW $2.49 $34,902 $32,832 12.9 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: The type of solar panel you'd like to get plays a role in which installer you should go with, since different companies provide different panels.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
  • Installation Process: When going solar, it's important to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
  • Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.

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

Tesla Energy

★★★★★
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 Randolph, NJ Solar Cost FAQs

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

This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Are solar panels free in Randolph?

Solar panels aren't free in Randolph, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Do solar panels increase your property value?

Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

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 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 buy 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.

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