Solar Panel Cost Guide in South Bound Brook, NJ (Oct 2022)

  • South Bound Brook Solar Installation Cost: $9,191
  • 25-Year Savings: $8,660
  • Payback Period: 12.9 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 South Bound Brook

Find out what the average cost of installing solar panels is in South Bound Brook.

While the national average of solar panels is $2.66 per watt, solar panels in South Bound Brook typically cost around $3. To cover the typical energy usage of the average home in South Bound Brook, most homeowners require a 4.7-kilowatt system. Using the figure above, a solar installation costs around $9,191, or $6,801 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in South Bound Brook can save about $14,000 on their energy bills over 20 years.

Click the button below to get connected to a top solar panel company in South Bound Brook for a custom estimate.

Solar savings over time in South Bound Brook

Year Return on Investment
1 years $-8,477
3 years $-7,049
5 years $-5,621
7 years $-4,193
9 years $-2,765
11 years $-1,337
13 years $91
15 years $1,519
17 years $2,947
19 years $4,376
21 years $5,804
23 years $7,232
25 years $8,660

Top Solar Installers in South Bound Brook

Putting up solar panels on your own can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Some solar companies, particularly local ones, can help you take advantage of incentives in South Bound Brook, optimizing your ROI.

If you're looking for a solar installer in South Bound Brook, the EcoWatch team has 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 South Bound Brook

Factors that Affect Solar Panel Costs in South Bound Brook

Although the average cost of solar panels in South Bound Brook is $9,191, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.

Solar Equipment Size

One of the most important 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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in South Bound Brook. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the South Bound Brook average.

Solar Financing Terms

Many homeowners find the average cost of solar in South Bound Brook to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. Even though solar loans make switching to solar energy more accessible for South Bound Brook homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in South Bound Brook, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Additionally, some companies in South Bound Brook have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

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 $10,518 13.4 years
8 kW $2.83 $15,822 $14,334 13.1 years
10 kW $2.77 $19,390 $18,305 12.9 years
12 kW $2.71 $22,803 $22,432 12.6 years
14 kW $2.66 $26,060 $26,713 12.3 years
16 kW $2.60 $29,163 $31,150 12.1 years
18 kW $2.55 $32,110 $35,742 11.8 years
20 kW $2.49 $34,902 $40,489 11.6 years

Solar Incentives in South Bound Brook

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

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

  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
  • Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
  • Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.

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 South Bound Brook, NJ Solar Cost FAQs

What is the average cost of installing solar panels in South Bound Brook?

The average cost of solar panels in South Bound Brook is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important thing to keep in mind when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How much can I save on electricity bills after installing solar panels?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout South Bound Brook, 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.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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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