Solar Panel Cost Guide in Somerset, NJ (2024 Update)
- Somerset Solar Installation Cost: $11,701
- 25-Year Savings: $8,668
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in Somerset
Let’s have a look at the average cost of solar panels in Somerset.
The average cost of solar panels in Somerset is 4 per watt.Since a 4.7-kW system is needed to cover the energy needs of a typical home in Somerset, the average price of going solar will be about $11,701 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.For most homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Somerset see about $14,000 in savings on energy bills over 20 years.
To receive a free estimate from a pre-vetted solar installation company in Somerset, you can click the button below.
Solar savings over time in Somerset
| Year | Return on Investment |
|---|---|
| 1 years | $-10,279 |
| 3 years | $-7,434 |
| 5 years | $-4,589 |
| 7 years | $-1,745 |
| 9 years | $1,100 |
| 11 years | $3,945 |
| 13 years | $6,790 |
| 15 years | $9,634 |
| 17 years | $12,479 |
| 19 years | $15,324 |
| 21 years | $18,168 |
| 23 years | $21,013 |
| 25 years | $23,858 |
Top Solar Installers in Somerset
Trying to put up solar panels on your own can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar company as well, which can save you more money after your initial investment.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Somerset
Factors that Affect Solar Panel Costs in Somerset
The cost of installing a solar system in Somerset can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.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 energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Somerset average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Somerset, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.It’s a good idea to factor 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 back the loan.
Solar Panel Installation Company
The solar panel installation company you select 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 compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $3.67 | $15,419 | $7,198 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $9,993 | 16.7 years |
| 10 kW | $3.53 | $24,710 | $12,985 | 16.4 years |
| 12 kW | $3.46 | $29,059 | $16,175 | 16.1 years |
| 14 kW | $3.39 | $33,210 | $19,563 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,149 | 15.4 years |
| 18 kW | $3.25 | $40,920 | $26,932 | 15.1 years |
| 20 kW | $3.18 | $44,478 | $30,913 | 14.7 years |
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 selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Somerset, NJ Solar Cost FAQs
How much does it cost to install solar panels in Somerset?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Somerset?
A solar panel system isn’t free in Somerset, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can solar panels completely eradicate my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Somerset, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
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.