Solar Panel Cost Guide in South River, NJ (Mar 2023)
- South River Solar Installation Cost: $9,075
- 25-Year Savings: $7,942
- Payback Period: 13.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in South River
Here's how much it might cost to make the switch to solar in South River.
In South River, solar panels cost about 2.77 per watt on average. The average South River homeowner needs a 4.7-kilowatt system, which would cost about $9,075 with the federal tax credit, or $12,977 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy consumption and what company you go with. Despite the large initial cost, the average South River homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the advantages of solar.
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 | $-8,394 |
| 3 years | $-7,032 |
| 5 years | $-5,671 |
| 7 years | $-4,310 |
| 9 years | $-2,948 |
| 11 years | $-1,587 |
| 13 years | $-226 |
| 15 years | $1,136 |
| 17 years | $2,497 |
| 19 years | $3,858 |
| 21 years | $5,220 |
| 23 years | $6,581 |
| 25 years | $7,942 |
Top Solar Installers in South River
Many homeowners opt for a solar panel company since installing solar panels on your own can be a labor-intensive endeavor. A solar installer can also help save you money over time by offering warranties, repairs and part replacements.
Working with a professional solar installer can make going solar easier. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 River
Factors that Affect Solar Panel Costs in South River
The cost of installing a solar system in South River can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant 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
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,770. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, 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. However, the interest on solar loans also increases your all-in costs, so it's important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in South River is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, you'll have many options for solar installers that provide a range of services at different costs. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 solar installer you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Warranty: If you're concerned about the longevity of your solar panel system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in South River?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in South River?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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.