Solar Panel Cost Guide in South River, NJ (2023 Update)
- South River Solar Installation Cost: $9,074
- 25-Year Savings: $7,943
- Payback Period: 13.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in South River
See how much it might cost to make the switch to solar in South River.
The average cost of a solar system in South River is 2.77 per watt. The average solar panel system size in South River is around 4.7 kilowatts, meaning a cost of about $9,075 for a solar installation, or $12,977 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on power bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in South River
| Year | Return on Investment |
|---|---|
| 1 years | $-8,015 |
| 3 years | $-5,897 |
| 5 years | $-3,778 |
| 7 years | $-1,660 |
| 9 years | $458 |
| 11 years | $2,577 |
| 13 years | $4,695 |
| 15 years | $6,813 |
| 17 years | $8,932 |
| 19 years | $11,050 |
| 21 years | $13,169 |
| 23 years | $15,287 |
| 25 years | $17,405 |
Top Solar Installers in South River
Although you can install solar panels by yourself, it requires extra labor and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Plus, if you aren't sure what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar company in South River, we've organized a list of our top suggestions here:
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 River
Factors that Affect Solar Panel Costs in South River
There are several factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar system in South River, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the South River average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many South River homeowners opt to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in South River is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fit into your budget.
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 | $9,717 | 13.9 years |
| 8 kW | $2.83 | $15,822 | $13,267 | 13.6 years |
| 10 kW | $2.77 | $19,390 | $16,971 | 13.3 years |
| 12 kW | $2.71 | $22,803 | $20,831 | 13.1 years |
| 14 kW | $2.66 | $26,060 | $24,846 | 12.8 years |
| 16 kW | $2.60 | $29,163 | $29,015 | 12.5 years |
| 18 kW | $2.55 | $32,110 | $33,340 | 12.3 years |
| 20 kW | $2.49 | $34,902 | $37,821 | 12.0 years |
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 difficult, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Reputation: Well-established companies likely have a good 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 service, such as part repairs and replacements.
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 River, NJ Solar Cost FAQs
What is the average cost of installing solar panels in South River?
The average cost of solar panels in South River 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in South River?
You can't get solar panels for free in South River. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Does South River have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
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 are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use 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.