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

  • Springfield Solar Installation Cost: $9,055
  • 25-Year Savings: $7,962
  • Payback Period: 13.3 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 Springfield

See how much it might cost to go solar in Springfield.

The national average cost of solar panels is $2.66 per watt, but in Springfield it's $3 per watt. Because a 4.7-kW system is needed to cover the energy needs of a typical home in Springfield, the average price of going solar will be about $9,055 before claiming the federal solar tax credit of 30%.

The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on power bills.

You can click the button below to get connected with a pre-vetted solar installer in Springfield that can help you get a more accurate cost estimate for your home.

Solar savings over time in Springfield

Year Return on Investment
1 years $-8,374
3 years $-7,013
5 years $-5,652
7 years $-4,290
9 years $-2,929
11 years $-1,568
13 years $-206
15 years $1,155
17 years $2,516
19 years $3,878
21 years $5,239
23 years $6,601
25 years $7,962

Top Solar Installers in Springfield

Putting up solar panels on your own can be a time-consuming project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be useful as well, especially if you aren't sure what type of solar equipment you need.

If you're searching for a solar company in Springfield, the EcoWatch team has organized 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 Springfield

Factors that Affect Solar Panel Costs in Springfield

There are a number of factors that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.

Solar Equipment Size

System size is one of the largest factors that affects the overall cost of going solar. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Springfield, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

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 Springfield homeowners decide to finance their solar panel systems to offset upfront costs. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The solar installation company you pick will impact your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

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 $9,785 13.8 years
8 kW $2.83 $15,822 $13,357 13.6 years
10 kW $2.77 $19,390 $17,084 13.3 years
12 kW $2.71 $22,803 $20,967 13.0 years
14 kW $2.66 $26,060 $25,004 12.8 years
16 kW $2.60 $29,163 $29,196 12.5 years
18 kW $2.55 $32,110 $33,544 12.2 years
20 kW $2.49 $34,902 $38,047 12.0 years

Solar Incentives in Springfield

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 solar company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, such as:

  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
  • Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure 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 brand 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 ask for their list of offerings before making your decision.

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?

This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is it better to lease or buy solar panels in Springfield?

Leasing solar panels can be an option if you can't pay upfront or secure 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 bang for your buck from going solar.

Can solar panels eliminate my energy bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Springfield, that will require at least a 10-kW system. Not all homes 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.

How long do solar panels last in Springfield?

On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.

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