Solar Panel Cost Guide in Ridgewood, NJ (Mar 2023)
- Ridgewood Solar Installation Cost: $9,055
- 25-Year Savings: $8,906
- Payback Period: 12.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ridgewood
We go over average solar pricing in Ridgewood.
The average cost of a solar panel system in Ridgewood is 2.77 per watt. To account for the typical energy usage of the average home in Ridgewood, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on your specific situation and what company you want to go with. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Ridgewood can save around $15,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Ridgewood for a quote for your home.
Solar savings over time in Ridgewood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,337 |
| 3 years | $-6,900 |
| 5 years | $-5,463 |
| 7 years | $-4,026 |
| 9 years | $-2,589 |
| 11 years | $-1,152 |
| 13 years | $284 |
| 15 years | $1,721 |
| 17 years | $3,158 |
| 19 years | $4,595 |
| 21 years | $6,032 |
| 23 years | $7,469 |
| 25 years | $8,906 |
Top Solar Installers in Ridgewood
Installing solar panels on your own can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Plus, if you're not certain what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Ridgewood
Factors that Affect Solar Panel Costs in Ridgewood
For many Ridgewood homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Ridgewood, with typical prices between $20,000 to $40,000. There are several factors that considerably 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 going solar. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 in the long run on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Ridgewood average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Ridgewood homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact your pricing. Ridgewood's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $10,998 | 13.1 years |
| 8 kW | $2.83 | $15,822 | $14,975 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,106 | 12.6 years |
| 12 kW | $2.71 | $22,803 | $23,392 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $27,834 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,431 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,183 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $42,090 | 11.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose significantly influences 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:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer's reputation is by reading reviews.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
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 Ridgewood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Ridgewood?
The average cost of solar panels in Ridgewood is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Ridgewood?
A solar panel system isn't free in Ridgewood, 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 can further reduce the cost.
How much can I save on electricity bills after switching to solar?
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 $769.92 per year.
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 take a 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 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.