Solar Panel Cost Guide in Riverdale, NJ (2024 Update)
- Riverdale Solar Installation Cost: $11,808
- 25-Year Savings: $8,122
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Riverdale
We break down average solar pricing in Riverdale.
The average cost of a solar system in Riverdale is 4 per watt.Because a 4.8-kW system is needed to cover the energy costs of a typical home in Riverdale, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
These figures are just averages, and your own solar costs will most likely look different based on your specific situation and what company you want to go with.Despite the significant initial cost, the average Riverdale homeowner can save about $14,000 on their power bills over 20 years, which is one of the perks of solar.
To get a free quote from a top solar company in Riverdale, you can click the button below.
Solar savings over time in Riverdale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Riverdale
When switching to solar energy, many homeowners choose to use a solar installation company since putting up solar panels yourself can be a time-consuming project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Riverdale
Factors that Affect Solar Panel Costs in Riverdale
For many Riverdale homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Riverdale, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
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 consumes, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in Riverdale.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to consider 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
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Riverdale homeowners decide to finance their solar panel systems to make paying for solar more affordable.Although solar loans make switching to solar energy more accessible for Riverdale homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Riverdale, and each can charge different amounts for labor and equipment.Additionally, some companies in Riverdale know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $6,412 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,945 | 17.3 years |
| 10 kW | $3.53 | $24,710 | $11,676 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,604 | 16.6 years |
| 14 kW | $3.39 | $33,210 | $17,730 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $21,053 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,574 | 15.6 years |
| 20 kW | $3.18 | $44,478 | $28,293 | 15.3 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Riverdale, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline incentives and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 good reviews from previous customers.
- Solar Panel Brands: The kind of solar panel you want plays a role in which installer you should choose, since different companies offer different panels.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed 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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Riverdale?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know 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 household 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.