Solar Panel Cost Guide in Tenafly, NJ (2024 Update)
- Tenafly Solar Installation Cost: $11,529
- 25-Year Savings: $8,958
- Payback Period: 16.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Tenafly
We go over average solar pricing in Tenafly.
While the national average of solar panels is $2.66 per watt, solar panels in Tenafly generally cost about 4.The average solar panel system size in Tenafly is around 4.7 kilowatts, meaning a cost of about $11,529 for a solar installation, or $16,486 before the 0 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 exact cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Tenafly can save about $15,000 on their energy bills over 20 years.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Tenafly
| Year | Return on Investment |
|---|---|
| 1 years | $-10,106 |
| 3 years | $-7,262 |
| 5 years | $-4,417 |
| 7 years | $-1,572 |
| 9 years | $1,273 |
| 11 years | $4,117 |
| 13 years | $6,962 |
| 15 years | $9,807 |
| 17 years | $12,652 |
| 19 years | $15,496 |
| 21 years | $18,341 |
| 23 years | $21,186 |
| 25 years | $24,031 |
Top Solar Installers in Tenafly
Many homeowners choose to use a solar panel company since installing solar panels on your own can be time-consuming. Another upside of going with a solar company is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Tenafly:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Tenafly
Factors that Affect Solar Panel Costs in Tenafly
Although the average cost of a solar system in Tenafly is $11,529, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why 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 many different solar panel brands and the one you choose also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Tenafly, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.It’s a good idea 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 off the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Tenafly, and each can charge varying amounts for labor and equipment.Additionally, some companies in Tenafly have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $3.67 | $15,419 | $7,735 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,709 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $13,880 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,250 | 15.7 years |
| 14 kW | $3.39 | $33,210 | $20,816 | 15.4 years |
| 16 kW | $3.32 | $37,164 | $24,581 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,543 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,703 | 14.4 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Contract: Look through the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 secure and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Tenafly, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Tenafly?
The average cost of solar panels in Tenafly is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Tenafly?
Solar panels aren’t free in Tenafly, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Tenafly?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had 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.