Solar Panel Cost Guide in Short Hills, NJ (Oct 2022)

  • Short Hills Solar Installation Cost: $9,171
  • 25-Year Savings: $7,846
  • Payback Period: 13.5 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 Short Hills

Here's how much it might cost to make the switch to solar in Short Hills.

In Short Hills, solar panels cost about $3 per watt on average. To cover the typical energy needs of the average home in Short Hills, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,171, or $6,787 after the federal solar tax credit of 30% is applied.

The true cost of your system can go above or below the average in Short Hills depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.

To receive a free quote from a highly rated solar company in Short Hills, you can click the button below.

Solar savings over time in Short Hills

Year Return on Investment
1 years $-8,491
3 years $-7,129
5 years $-5,768
7 years $-4,407
9 years $-3,045
11 years $-1,684
13 years $-323
15 years $1,039
17 years $2,400
19 years $3,761
21 years $5,123
23 years $6,484
25 years $7,846

Top Solar Installers in Short Hills

Many homeowners choose to hire a solar installation company since trying to install solar panels on your own can be hard. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.

If you're looking for a solar company in Short Hills, we've put together a list of our top suggestions here:

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 Short Hills

Factors that Affect Solar Panel Costs in Short Hills

Although the average cost of solar panels in Short Hills is $9,171, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

Size is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar companies in Short Hills have solar loans, which reduce the initial cost of installing solar panels. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.

Solar Panel Installation Company

The solar company you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor. 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 car 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 $9,479 14.0 years
8 kW $2.83 $15,822 $12,949 13.7 years
10 kW $2.77 $19,390 $16,574 13.5 years
12 kW $2.71 $22,803 $20,354 13.2 years
14 kW $2.66 $26,060 $24,289 12.9 years
16 kW $2.60 $29,163 $28,380 12.7 years
18 kW $2.55 $32,110 $32,625 12.4 years
20 kW $2.49 $34,902 $37,026 12.1 years

Solar Incentives in Short Hills

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

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

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the model of solar panels and the company you choose significantly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Installation Process: When going solar, it's important to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
  • Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
  • Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.

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 Short Hills, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Short Hills?

This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Can you get solar panels for free in Short Hills?

Solar panels aren't free in Short Hills, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Do solar panels increase your home value?

Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Short Hills is currently $1,189,324, so you can expect about a value of about $48,762 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Short Hills is a rewarding investment.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the amount of 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 get between 20 and 35 panels to cover 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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