Solar Panel Cost Guide in Wanamassa, NJ (2023 Update)
- Wanamassa 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 Wanamassa
Find out what the average cost of a solar system is in Wanamassa.
The average cost of a solar system in Wanamassa is 2.77 per watt. To account for the typical energy usage of the average home in Wanamassa, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,764, or $12,533 before the federal solar tax credit of 30% is applied.
How much you pay can go higher or lower than the average in Wanamassa based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. Despite the large upfront cost, the average Wanamassa homeowner can save about $14,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free quote from a vetted solar installer in Wanamassa, you can click the button below.
Solar savings over time in Wanamassa
| 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 Wanamassa
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of a solar company can make switching to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for you.
If you'd like to go solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Wanamassa:
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 Wanamassa
Factors that Affect Solar Panel Costs in Wanamassa
For many Wanamassa homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Wanamassa, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. 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 greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Wanamassa, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Wanamassa is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. Some companies 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 cost more. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also fit into 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
The solar panel company you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
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 Wanamassa, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Wanamassa?
The average cost of solar panels in Wanamassa is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Wanamassa?
You can't get solar panels for free in Wanamassa. However, you may still be able to install 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.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.