Solar Panel Cost Guide in Ringwood, NJ (2025 Update)
- Ringwood Solar Installation Cost: $11,798
- 25-Year Savings: $8,080
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Ringwood
Let’s have a look at the average cost of solar in Ringwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ringwood, the typical cost of a solar system is 4 per watt.Using this figure, a typical 4.8-kW system would cost about $11,798 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Ringwood homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Ringwood find installing solar panels can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Ringwood that can help you get a more accurate cost estimate for your home.
Solar savings over time in Ringwood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,739 |
| 3 years | $-8,620 |
| 5 years | $-6,502 |
| 7 years | $-4,384 |
| 9 years | $-2,265 |
| 11 years | $-147 |
| 13 years | $1,972 |
| 15 years | $4,090 |
| 17 years | $6,208 |
| 19 years | $8,327 |
| 21 years | $10,445 |
| 23 years | $12,564 |
| 25 years | $14,682 |
Top Solar Installers in Ringwood
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar company can make swapping over to solar power much easier. Plus, if you’re not certain what brand of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. 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 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 Ringwood
Factors that Affect Solar Panel Costs in Ringwood
The cost of installing a solar system in Ringwood can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in Ringwood.There are many different solar panel brands and the one you choose also changes the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Ringwood to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.However, the interest on solar loans also adds to your all-in costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Ringwood, and each can charge varying amounts for labor and equipment.Some companies 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 at a higher cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also fit into 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 | $6,369 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,887 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,603 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,517 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,628 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,937 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,444 | 15.7 years |
| 20 kW | $3.18 | $44,478 | $28,148 | 15.3 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, 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:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
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 Ringwood, NJ Solar Cost FAQs
How much does it cost to install solar panels in Ringwood?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Ringwood?
Leasing solar panels can be an appealing choice, because it typically 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.
Does Ringwood have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to 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 usage and the amount of 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 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.