Solar Panel Cost Guide in Springfield, NJ (Aug 2022)

  • Springfield Solar Installation Cost: $9,573
  • 25-Year Savings: $7,444
  • Payback Period: 14.0 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Springfield

See how much it might cost to switch to solar power in Springfield.

The national average cost of solar panels is $2.66 per watt, but in Springfield it's $3 per watt. To cover the typical energy needs of the average home in Springfield, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,573, or $7,084 after the federal solar tax credit is applied.

How much you pay can go above or below the average in Springfield based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a solid investment. The average homeowner in Springfield can save about $14,000 on their power bills over 20 years.

For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Springfield

Year Return on Investment
1 years $-8,892
3 years $-7,531
5 years $-6,169
7 years $-4,808
9 years $-3,446
11 years $-2,085
13 years $-724
15 years $638
17 years $1,999
19 years $3,360
21 years $4,722
23 years $6,083
25 years $7,444

Top Solar Installers in Springfield

When switching to solar energy, many homeowners prefer to go with a solar installation company since putting up solar panels yourself can be a time-consuming project. Some solar installers, particularly local ones, can help you make the most of incentives in Springfield, optimizing your ROI.

You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:

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 Springfield

Factors that Affect Solar Panel Costs in Springfield

The cost of installing a solar system in Springfield can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of installing solar panels 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 Springfield. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only 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 solar panels in cash is out of reach, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.

Solar Panel Installation Company

A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Springfield is the company you choose to install your PV system. As with choosing a company to renovate your kitchen, for example, you'll have many options for solar installers that provide a range of services at different costs. 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 additional 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 $2.88 $12,791 $9,094 14.6 years
8 kW $2.83 $16,726 $12,453 14.3 years
10 kW $2.77 $20,498 $15,976 14.0 years
12 kW $2.71 $24,106 $19,663 13.8 years
14 kW $2.66 $27,549 $23,515 13.5 years
16 kW $2.60 $30,829 $27,530 13.2 years
18 kW $2.55 $33,945 $31,709 12.9 years
20 kW $2.49 $36,896 $36,052 12.6 years

Solar Incentives in Springfield

Name NJ Clean Energy- Residential New Construction Program
Incentive Amount Incentives depend on the HERS score and the classification
Single family homes: Ranges from $1,125 to - 24,250
Multi-single homes: Ranges from $1,125 to $18,188
Multifamily homes: Ranges from $625-$12,125
Incentive Max Multifamily: up to $12,125
Individual homes: up to $24,250
Website Visit here
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
Incentive Amount 100% of value added by renewable system
More Info Click here

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Incentive Amount Determined by the market.
In June 2016, SREC traded at an average price of $229.90.
Incentive Max Maximum price set by the SACP for the particular year.
Website Visit here
More Info Click here

Name PSE&G - Solar Loan Program
Website Visit here
More Info Click here

Name Successor Solar Incentive (SuSI) Program
Incentive Amount Net-Metered Residential: $90/SREC-II

Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar
Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities
Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities

Net Metered Non-Residential Ground Mount
Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities
Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities

Community Solar LMI: $90/SREC-II
Community Solar Non-LMI: $70/SREC-II
Incentive Max MW-DC Capacity Blocks
Net Metered Residential: 150 MW
Net Metered Non-Residential: 150 MW
Community Solar (LMI and Non-LMI): 150 MW
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
Incentive Max None
More Info Click here

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 picking a company can be a challenge, we have some tips to help you, such as:

  • Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
  • Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Solar Panel Brands: Homeowners will have different preferences for panels based 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 be sure to ask for their list of options before making your decision.
  • Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.

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 Springfield, NJ Solar Cost FAQs

How much does it cost to install solar panels in Springfield?

The average cost of solar panels in Springfield 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 consume.

Should I lease or buy solar panels in Springfield?

Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.

Does Springfield 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 offer you credit toward your future utility bills.

How many solar panels should I get to power 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 install between 20 and 35 panels to cover 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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