Solar Panel Cost Guide in Totowa, NJ (Sep 2022)

  • Totowa Solar Installation Cost: $9,249
  • 25-Year Savings: $8,317
  • Payback Period: 13.2 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 Totowa

Let's take a look at the average cost of solar panels in Totowa.

The national average cost of solar panels is $2.66 per watt, but in Totowa it's $3 per watt. Since a 4.8-kW system is needed to cover the energy consumption of a typical home in Totowa, the average price of going solar will be about $9,249 before claiming the federal solar tax credit of 30%.

The true cost of your system can go above or below the average in Totowa based on several factors, such as the model of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the savings 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 vetted solar installer in Totowa that can help you get a more accurate cost estimate for your home.

Solar savings over time in Totowa

Year Return on Investment
1 years $-8,546
3 years $-7,141
5 years $-5,736
7 years $-4,331
9 years $-2,925
11 years $-1,520
13 years $-115
15 years $1,290
17 years $2,696
19 years $4,101
21 years $5,506
23 years $6,911
25 years $8,317

Top Solar Installers in Totowa

Although you can install solar panels yourself, it involves extra effort and expertise. For that reason, most homeowners choose to go with a solar panel installer. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company as well, which can save you more money over time.

If you're looking for a solar installer in Totowa, 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 Totowa

Factors that Affect Solar Panel Costs in Totowa

Though the average cost of solar panels in Totowa is $9,249, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to consider.

Solar Equipment Size

The size of the solar panel system you need is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The type of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Totowa, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The final major cost factor you should take into consideration is the installer you choose. Given the booming popularity of clean energy solutions in Totowa, you'll have many options to choose from, but each comes at different price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $9,975 13.7 years
8 kW $2.83 $15,822 $13,610 13.4 years
10 kW $2.77 $19,390 $17,400 13.2 years
12 kW $2.71 $22,803 $21,345 12.9 years
14 kW $2.66 $26,060 $25,446 12.6 years
16 kW $2.60 $29,163 $29,701 12.4 years
18 kW $2.55 $32,110 $34,112 12.1 years
20 kW $2.49 $34,902 $38,678 11.9 years

Solar Incentives in Totowa

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

Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:

  • 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: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
  • Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
  • Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.

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 Totowa, NJ Solar Cost FAQs

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

This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.

Is cost the most important thing to consider when buying solar panels?

Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

Can you sell solar power back to the grid in Totowa?

The majority of states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How long do solar panels last in Totowa?

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 level 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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