Solar Panel Cost Guide in Rockaway, NJ (2023 Update)
- Rockaway Solar Installation Cost: $9,266
- 25-Year Savings: $7,611
- Payback Period: 13.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rockaway
We break down average solar pricing in Rockaway.
In Rockaway, solar panels cost about 2.77 per watt on average. To account for the typical energy needs of the average home in Rockaway, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs around $9,268, or $13,253 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you may differ based on your energy needs and what company you choose to go with. With typical savings of about $13,000 on power bills over 20 years, many homeowners in Rockaway find installing solar panels can be quite rewarding.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Rockaway
| Year | Return on Investment |
|---|---|
| 1 years | $-8,207 |
| 3 years | $-6,088 |
| 5 years | $-3,970 |
| 7 years | $-1,851 |
| 9 years | $267 |
| 11 years | $2,385 |
| 13 years | $4,504 |
| 15 years | $6,622 |
| 17 years | $8,741 |
| 19 years | $10,859 |
| 21 years | $12,977 |
| 23 years | $15,096 |
| 25 years | $17,214 |
Top Solar Installers in Rockaway
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be challenging. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
If you're searching for a solar installer in Rockaway, we've compiled a list of our top suggestions here:
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 Rockaway
Factors that Affect Solar Panel Costs in Rockaway
The cost of installing a solar system in Rockaway can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Rockaway, one of the most important 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 gauge by looking at past power bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Rockaway average.
Solar Financing Terms
Many homeowners find the average cost of solar in Rockaway to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Rockaway is the company you hire to install your solar system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,090 | 14.3 years |
| 8 kW | $2.83 | $15,822 | $12,431 | 14.0 years |
| 10 kW | $2.77 | $19,390 | $15,926 | 13.7 years |
| 12 kW | $2.71 | $22,803 | $19,577 | 13.5 years |
| 14 kW | $2.66 | $26,060 | $23,383 | 13.2 years |
| 16 kW | $2.60 | $29,163 | $27,344 | 12.9 years |
| 18 kW | $2.55 | $32,110 | $31,460 | 12.6 years |
| 20 kW | $2.49 | $34,902 | $35,731 | 12.4 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which installer you should go with, since different companies provide different panels.
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 Rockaway, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Rockaway?
The average cost of solar panels in Rockaway 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Rockaway?
Leasing solar panels can be an attractive choice, because it usually 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Can you sell solar power back to the grid in Rockaway?
Each state has some form 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 energy bills.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.