Solar Panel Cost Guide in Upper Montclair, NJ (Aug 2022)

  • Upper Montclair Solar Installation Cost: $9,696
  • 25-Year Savings: $8,155
  • Payback Period: 13.6 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 Upper Montclair

See how much it might cost to install solar panels in Upper Montclair.

The average cost of solar panels in Upper Montclair is $3 per watt. The average solar panel system size in Upper Montclair is around 4.7 kilowatts, meaning a cost of about $9,696 for a solar installation, or $7,175 after the federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with. But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $14,000 over 20 years on utility bills.

Click the button below to get connected to a top solar installer in Upper Montclair for a customized quote.

Solar savings over time in Upper Montclair

Year Return on Investment
1 years $-8,982
3 years $-7,553
5 years $-6,125
7 years $-4,697
9 years $-3,269
11 years $-1,841
13 years $-413
15 years $1,015
17 years $2,443
19 years $3,871
21 years $5,299
23 years $6,727
25 years $8,155

Top Solar Installers in Upper Montclair

When switching to solar energy, many homeowners decide to use a solar company since handling can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you choose which one will be right for your home.

If you'd like to go solar but still aren't certain which solar company to go with, here are our suggestions for providers in Upper Montclair:

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 Upper Montclair

Factors that Affect Solar Panel Costs in Upper Montclair

There are many criteria that can influence your total 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

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size. Solar power systems with better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. In addition, extra products, like solar batteries, can bump up your total well above the Upper Montclair average.

Solar Financing Terms

Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Upper Montclair homeowners choose to finance their solar panel systems to offset upfront costs. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

Finally, the company you hire to install your solar system can play a part in determining how much you pay. Upper Montclair's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Upper Montclair have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 $2.88 $12,791 $9,844 14.1 years
8 kW $2.83 $16,726 $13,454 13.9 years
10 kW $2.77 $20,498 $17,227 13.6 years
12 kW $2.71 $24,106 $21,165 13.3 years
14 kW $2.66 $27,549 $25,266 13.0 years
16 kW $2.60 $30,829 $29,531 12.8 years
18 kW $2.55 $33,945 $33,961 12.5 years
20 kW $2.49 $36,896 $38,554 12.2 years

Solar Incentives in Upper Montclair

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

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:

  • Solar Panel Brands: Different companies will offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you're considering has it.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely have a good reputation and are qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
  • Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.

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 Upper Montclair, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Upper Montclair?

This is a tough question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Upper Montclair?

A solar panel system isn't free in Upper Montclair, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can solar panels completely eradicate my power bills?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $754.50 per year.

How often do you have to replace solar panels?

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 higher 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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