Solar Panel Cost Guide in River Vale, NJ (2023 Update)
- River Vale Solar Installation Cost: $9,047
- 25-Year Savings: $8,958
- Payback Period: 12.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in River Vale
See how much it might cost to install solar panels in River Vale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in River Vale, the average cost of solar panels is 2.77 per watt. To cover the typical energy usage of the average home in River Vale, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,055, or $12,949 before the federal solar tax credit of 30% is applied.
How much you pay can be higher or lower than the average in River Vale based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. With typical savings of about $15,000 on power bills over 20 years, many homeowners in River Vale find going solar has a decent ROI.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in River Vale
| Year | Return on Investment |
|---|---|
| 1 years | $-7,624 |
| 3 years | $-4,779 |
| 5 years | $-1,935 |
| 7 years | $910 |
| 9 years | $3,755 |
| 11 years | $6,599 |
| 13 years | $9,444 |
| 15 years | $12,289 |
| 17 years | $15,134 |
| 19 years | $17,978 |
| 21 years | $20,823 |
| 23 years | $23,668 |
| 25 years | $26,513 |
Top Solar Installers in River Vale
Many homeowners opt for a solar installation company since installing solar panels by yourself can be hard. Plus, if you'd like to maximize your investment in solar power, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
There are a number of 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
See all of the solar companies in River Vale
Factors that Affect Solar Panel Costs in River Vale
For many River Vale homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in River Vale, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in River Vale to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. You'll have to consider the long-term cost of loans, including the amount of 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 getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in River Vale is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services at different price points. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer high-quality solar panel installation and expertise.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a role in which company you should choose, since different companies have access to different panels.
- Contract: Look through the contract terms carefully to make sure you understand the total 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
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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does River Vale 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 offer you credit toward your future power bills.
What solar power system size is right for 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 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.