Solar Panel Cost Guide in Vernon, NJ (2024 Update)
- Vernon Solar Installation Cost: $11,874
- 25-Year Savings: $15,526
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Vernon
Let’s have a look at the average cost of solar in Vernon.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Vernon, the typical cost of solar panels is 4 per watt.Because a 4.8-kW system is needed to cover the energy consumption of a typical home in Vernon, the average price of going solar will be about $11,874 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Vernon homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar installer in Vernon for a customized estimate.
Solar savings over time in Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,778 |
| 3 years | $-8,586 |
| 5 years | $-6,394 |
| 7 years | $-4,202 |
| 9 years | $-2,010 |
| 11 years | $182 |
| 13 years | $2,374 |
| 15 years | $4,566 |
| 17 years | $6,758 |
| 19 years | $8,950 |
| 21 years | $11,142 |
| 23 years | $13,334 |
| 25 years | $15,526 |
Top Solar Installers in Vernon
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar company can make converting to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy needs, but working with a solar company can shorten it. Your provider will be able to help you identify incentives available in your area.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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
See all of the solar companies in Vernon
Factors that Affect Solar Panel Costs in Vernon
For many Vernon homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Vernon, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production 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 $3,530.The model of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Vernon have solar loans, which reduce your upfront costs of installing a solar system.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Vernon are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $7,562 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,478 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,592 | 16.1 years |
| 12 kW | $3.46 | $29,059 | $16,904 | 15.8 years |
| 14 kW | $3.39 | $33,210 | $20,413 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $24,120 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $28,024 | 14.8 years |
| 20 kW | $3.18 | $44,478 | $32,126 | 14.5 years |
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 some important things you should consider, such as:
- Contract: Before signing a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
Best National Provider
SunPower
- 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
- 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
EcoWatch's Vernon, NJ Solar Cost FAQs
How much does it cost to install solar panels in Vernon?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Vernon?
You can’t get solar panels for free in Vernon. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Vernon is currently $275,399, so you can look forward to a value of about $11,291 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Vernon is a worthwhile investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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.