Solar Panel Cost Guide in Riverdale, NJ (2023 Update)
- Riverdale Solar Installation Cost: $9,268
- 25-Year Savings: $8,119
- Payback Period: 13.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Riverdale
Find out what the average cost of solar panel installation is in Riverdale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Riverdale, the average cost of a solar system is 2.77 per watt. The average solar panel system size in Riverdale is around 4.8 kilowatts, meaning a cost of about $9,268 for a solar installation, or $13,253 before the 30% federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you may look different based on factors unique to your home and what company you want to go with. With typical savings of about $14,000 on power bills over 20 years, many homeowners in Riverdale find going solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in your area for a customized estimate.
Solar savings over time in Riverdale
| Year | Return on Investment |
|---|---|
| 1 years | $-8,573 |
| 3 years | $-7,182 |
| 5 years | $-5,791 |
| 7 years | $-4,400 |
| 9 years | $-3,009 |
| 11 years | $-1,618 |
| 13 years | $-227 |
| 15 years | $1,164 |
| 17 years | $2,555 |
| 19 years | $3,946 |
| 21 years | $5,337 |
| 23 years | $6,728 |
| 25 years | $8,119 |
Top Solar Installers in Riverdale
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of an installer can make converting to solar power much easier. The payback period of solar panels will vary based on factors like your roof configuration and energy use, but going with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our suggestions for providers near you:
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 Riverdale
Factors that Affect Solar Panel Costs in Riverdale
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Riverdale: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Riverdale, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Although solar loans make going solar more accessible for Riverdale homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can influence how much you pay. Riverdale's solar companies all have different labor costs and add varying upcharges to equipment. The company's size 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 generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $9,732 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,286 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,996 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,860 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,880 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $29,054 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,384 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,869 | 12.0 years |
How to Save on Solar Panels
There are a lot of companies available in Riverdale, 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:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Riverdale, NJ Solar Cost FAQs
How much does it cost to install solar panels in Riverdale?
The average cost of solar panels in Riverdale 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 like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Riverdale?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Riverdale?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.