Solar Panel Cost Guide in Rumson, NJ (Jan 2023)
- Rumson Solar Installation Cost: $8,764
- 25-Year Savings: $7,419
- Payback Period: 13.5 Years
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Top Solar Installers in Rumson
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring a solar company can make your swap to solar power much easier. The expertise that solar companies provide can be useful as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
If you're searching for a solar installer in Rumson, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Rumson
Factors that Affect Solar Panel Costs in Rumson
For many Rumson homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Rumson, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 pay around $2,770 per kilowatt in Rumson. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your total costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Rumson is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services at different price points. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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||$9,382||14.1 years|
|8 kW||$2.83||$15,822||$12,819||13.8 years|
|10 kW||$2.77||$19,390||$16,412||13.5 years|
|12 kW||$2.71||$22,803||$20,160||13.3 years|
|14 kW||$2.66||$26,060||$24,062||13.0 years|
|16 kW||$2.60||$29,163||$28,120||12.7 years|
|18 kW||$2.55||$32,110||$32,333||12.5 years|
|20 kW||$2.49||$34,902||$36,702||12.2 years|
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
EcoWatch's Rumson, NJ Solar Cost FAQs
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.