Solar Panel Cost Guide in River Vale, NJ (Mar 2023)
- River Vale Solar Installation Cost: $9,055
- 25-Year Savings: $8,950
- Payback Period: 12.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in River Vale
Here's how much it might cost to switch to solar power in River Vale.
In River Vale, solar panels cost about 2.77 per watt on average. To account for the typical energy usage of the average home in River Vale, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely look different based on the amount of energy your home requires and what company you go with. Many homeowners find installing solar panels is a rewarding investment. The average homeowner in River Vale can save about $15,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in River Vale
| Year | Return on Investment |
|---|---|
| 1 years | $-8,335 |
| 3 years | $-6,895 |
| 5 years | $-5,454 |
| 7 years | $-4,014 |
| 9 years | $-2,573 |
| 11 years | $-1,133 |
| 13 years | $307 |
| 15 years | $1,748 |
| 17 years | $3,188 |
| 19 years | $4,628 |
| 21 years | $6,069 |
| 23 years | $7,509 |
| 25 years | $8,950 |
Top Solar Installers in River Vale
Although you can install solar panels on your own, it involves extra effort and handiness. Because of that, the majority of homeowners choose a solar panel installer. Also, if you'd like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you'd like to switch to solar energy but still aren't sure which solar installer to go with, here are our recommendations for providers in River Vale:
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 River Vale
Factors that Affect Solar Panel Costs in River Vale
Although the average cost of a solar system in River Vale is $9,055, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the price of solar panels in River Vale, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in River Vale to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to 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 keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes 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 | $11,055 | 13.1 years |
| 8 kW | $2.83 | $15,822 | $15,050 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,200 | 12.6 years |
| 12 kW | $2.71 | $22,803 | $23,506 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $27,967 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,582 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,353 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $42,279 | 11.3 years |
How to Save on Solar Panels
There are a lot of companies available in River Vale, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely provide quality solar panel installation and expertise.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline incentives and warranties.
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 River Vale, NJ Solar Cost FAQs
What is the average cost of installing solar panels in River Vale?
The average cost of solar panels in River Vale is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in River Vale?
A solar panel system isn't free in River Vale, 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.
Is it worth going solar in River Vale?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.