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 average cost of a solar system is 4 per watt.Using this figure, a typical 4.8-kW system would cost about $11,874 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs may differ based on factors unique to your home and what company you want to go with.Even with the large initial cost, the average Vernon homeowner can save about $15,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
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
Trying to put up solar panels yourself can be a time-consuming task, which is why hiring a solar installation company is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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
Even though the average cost of a solar system in Vernon is $11,874, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, 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 falls within your budget.
Solar Financing Terms
Most solar installers in Vernon provide solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Vernon is the company you hire to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, 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 | $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
Since the kind of solar panels and the company you choose greatly influences your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading over your solar installer’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 part breaking or if the company goes out of business.
- Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
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 precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels 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’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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.