Solar Panel Cost Guide in Raritan, NJ (Mar 2023)
- Raritan Solar Installation Cost: $9,230
- 25-Year Savings: $7,371
- Payback Period: 13.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Raritan
Find out how much it might cost to go solar in Raritan.
The average cost of a solar panel system in Raritan is 2.77 per watt. To account for the typical energy needs of the average home in Raritan, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs around $9,230, or $13,199 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in Raritan depending on a variety of factors, such as the model of solar panels you choose and the solar installer you hire. For many homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $13,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Raritan
| Year | Return on Investment |
|---|---|
| 1 years | $-8,566 |
| 3 years | $-7,238 |
| 5 years | $-5,910 |
| 7 years | $-4,582 |
| 9 years | $-3,253 |
| 11 years | $-1,925 |
| 13 years | $-597 |
| 15 years | $731 |
| 17 years | $2,059 |
| 19 years | $3,387 |
| 21 years | $4,715 |
| 23 years | $6,043 |
| 25 years | $7,371 |
Top Solar Installers in Raritan
Although it's possible to install solar panels by yourself, it requires extra labor and expertise. Because of that, most people choose a solar panel installer. Some solar companies, particularly local ones, can help you make the most of incentives in Raritan, thereby optimizing your ROI.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Raritan
Factors that Affect Solar Panel Costs in Raritan
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Raritan: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Raritan, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can figure out by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. 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. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Raritan average.
Solar Financing Terms
Many homeowners find the average cost of solar in Raritan to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you pick will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $8,845 | 14.4 years |
| 8 kW | $2.83 | $15,822 | $12,103 | 14.2 years |
| 10 kW | $2.77 | $19,390 | $15,516 | 13.9 years |
| 12 kW | $2.71 | $22,803 | $19,085 | 13.6 years |
| 14 kW | $2.66 | $26,060 | $22,809 | 13.3 years |
| 16 kW | $2.60 | $29,163 | $26,688 | 13.1 years |
| 18 kW | $2.55 | $32,110 | $30,722 | 12.8 years |
| 20 kW | $2.49 | $34,902 | $34,911 | 12.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for 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 Technology
Tesla Energy
- 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 Raritan, NJ Solar Cost FAQs
How much does it cost to install solar panels in Raritan?
This is a difficult 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 above-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Raritan?
A solar panel system isn't free in Raritan, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $698.13 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of 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 get 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.