Solar Panel Cost Guide in South Orange Village, NJ (2023 Update)
- South Orange Village Solar Installation Cost: $9,171
- 25-Year Savings: $7,846
- Payback Period: 13.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in South Orange Village
Let's have a look at the average cost of solar panels in South Orange Village.
The average cost of a solar system in South Orange Village is 2.77 per watt. Using this figure, a typical 4.7-kW system would cost about $9,171 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of installing solar panels can vary depending on several factors, such as how many panels you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in South Orange Village can save about $14,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in South Orange Village
| 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 South Orange Village
Although you can install solar panels yourself, it requires extra effort and expertise. For that reason, almost all homeowners choose to go with a solar panel installer. The expertise that solar installers provide can be useful as well, especially if you aren't sure what brand of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in South Orange Village:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in South Orange Village
Factors that Affect Solar Panel Costs in South Orange Village
While the average cost of a solar system in South Orange Village is $9,171, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can play a role in determining your pricing. South Orange Village's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in South Orange Village have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $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 |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's South Orange Village, NJ Solar Cost FAQs
What is the average cost of installing solar panels in South Orange Village?
The average cost of solar panels in South Orange Village 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 like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in South Orange Village?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in South Orange Village?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.