Solar Panel Cost Guide in Rutherford, NJ (Sep 2022)

  • Rutherford Solar Installation Cost: $9,055
  • 25-Year Savings: $8,795
  • Payback Period: 12.7 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Rutherford

Let's take a look at the average cost of solar panels in Rutherford.

The national average cost of solar panels is $2.66 per watt, but in Rutherford it's $3 per watt. To account for the typical energy needs of the average home in Rutherford, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,055, or $6,701 after the federal solar tax credit of 30% is applied.

These figures are only estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you go with. Despite the large upfront cost, the average Rutherford homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.

You can click the button below to get connected with a vetted solar installer in Rutherford that can help you get a more accurate cost estimate for your home.

Solar savings over time in Rutherford

Year Return on Investment
1 years $-8,341
3 years $-6,913
5 years $-5,485
7 years $-4,057
9 years $-2,629
11 years $-1,201
13 years $227
15 years $1,655
17 years $3,083
19 years $4,511
21 years $5,939
23 years $7,367
25 years $8,795

Top Solar Installers in Rutherford

DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Using a solar panel installer can make your switch to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Rutherford

Factors that Affect Solar Panel Costs in Rutherford

There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

The size of the system you need is one of the largest factors that affects the overall cost of installing solar panels. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are provided by most installers in Rutherford, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. Even though solar loans make adopting solar energy more accessible for Rutherford homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Rutherford, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $10,856 13.2 years
8 kW $2.83 $15,822 $14,785 12.9 years
10 kW $2.77 $19,390 $18,870 12.7 years
12 kW $2.71 $22,803 $23,109 12.4 years
14 kW $2.66 $26,060 $27,503 12.2 years
16 kW $2.60 $29,163 $32,053 11.9 years
18 kW $2.55 $32,110 $36,757 11.7 years
20 kW $2.49 $34,902 $41,617 11.4 years

Solar Incentives in Rutherford

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:

  • Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
  • Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
  • Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Rutherford, NJ Solar Cost FAQs

How much does it cost to install solar panels in Rutherford?

The average cost of solar panels in Rutherford 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 such as the type of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Rutherford?

Leasing solar panels can be an attractive choice, because it commonly 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 way to go if you want to maximize your savings.

Can you sell solar power back to the grid in Rutherford?

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 give you credit toward your future electricity bills.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.

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.

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