Solar Panel Cost Guide in Wall, NJ (2023 Update)
- Wall Solar Installation Cost: $8,765
- 25-Year Savings: $7,419
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Wall
Let's take a look at the average cost of solar in Wall.
In Wall, solar panels cost about 2.77 per watt on average. Using this figure, a typical 4.5-kW system would cost about $8,764 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Wall based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on utility bills.
Click the button below to get connected to a highly rated solar panel company in your area for a customized estimate.
Solar savings over time in Wall
| Year | Return on Investment |
|---|---|
| 1 years | $-8,711 |
| 3 years | $-8,603 |
| 5 years | $-8,495 |
| 7 years | $-8,387 |
| 9 years | $-8,279 |
| 11 years | $-8,171 |
| 13 years | $-8,064 |
| 15 years | $-7,956 |
| 17 years | $-7,848 |
| 19 years | $-7,740 |
| 21 years | $-7,632 |
| 23 years | $-7,524 |
| 25 years | $-7,416 |
Top Solar Installers in Wall
Although you can install solar panels yourself, it takes extra energy and know-how. For that reason, most homeowners choose to go with a solar panel installer. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
If you'd like to make the switch to solar but still aren't sure which solar system company to go with, here are our recommendations for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Wall
Factors that Affect Solar Panel Costs in Wall
While the average cost of a solar system in Wall is $8,764, your final cost may be above or below the average. 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
When it comes to estimating the price of a solar system in Wall, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $2,770 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Wall provide solar loans, which reduce your upfront costs of installing a solar system. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Wall, and each can charge different amounts for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also is within your budget.
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 | $9,382 | 14.1 years |
| 8 kW | $2.83 | $15,822 | $12,819 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,412 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,160 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $24,062 | 13.0 years |
| 16 kW | $2.60 | $29,163 | $28,120 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,333 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,702 | 12.2 years |
How to Save on Solar Panels
There are numerous companies available in Wall, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Wall, NJ Solar Cost FAQs
How much does it cost to install solar panels in Wall?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Do solar panels increase your property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wall is currently $386,607, so you can expect a value of about $15,851 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Wall is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.