Solar Panel Cost Guide in Roselle Park, NJ (2023 Update)
- Roselle Park Solar Installation Cost: $9,046
- 25-Year Savings: $8,804
- Payback Period: 12.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Roselle Park
Find out what the average cost of solar panels are in Roselle Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Roselle Park, the average cost of solar panels is 2.77 per watt. The average Roselle Park homeowner needs a 4.7-kilowatt system, which would cost about $9,055 with the federal tax credit, or $12,949 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar panels you choose, your solar contractor and more. Despite the high initial cost, the average Roselle Park homeowner can save around $15,000 on their energy bills over 20 years, which is one of the perks of solar.
To get a free estimate from a pre-vetted solar company in Roselle Park, you can click the button below.
Solar savings over time in Roselle Park
| 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 | $6,600 |
| 13 years | $9,444 |
| 15 years | $12,289 |
| 17 years | $15,134 |
| 19 years | $17,979 |
| 21 years | $20,823 |
| 23 years | $23,668 |
| 25 years | $26,513 |
Top Solar Installers in Roselle Park
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your home.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations 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 Roselle Park
Factors that Affect Solar Panel Costs in Roselle Park
Although the average cost of a solar system in Roselle Park is $9,055, your actual cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in Roselle Park. There are a lot of different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect your pricing. Roselle Park's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $10,857 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,786 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,870 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,110 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,504 | 12.2 years |
| 16 kW | $2.60 | $29,163 | $32,054 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,759 | 11.7 years |
| 20 kW | $2.49 | $34,902 | $41,619 | 11.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Read the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Roselle Park, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Roselle Park?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Roselle Park?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.