Solar Panel Cost Guide in Watchung, NJ (2023 Update)
- Watchung Solar Installation Cost: $9,182
- 25-Year Savings: $7,835
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Watchung
We go over average solar pricing in Watchung.
Although the national average of solar panels is $2.66 per watt, solar panels in Watchung typically cost about 2.77. The average solar panel system size in Watchung is around 4.7 kilowatts, meaning a cost of about $9,191 for a solar installation, or $13,143 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Watchung based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. Even with the significant initial cost, the average Watchung homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a reputable solar panel company in Watchung for a custom quote.
Solar savings over time in Watchung
| Year | Return on Investment |
|---|---|
| 1 years | $-9,125 |
| 3 years | $-9,012 |
| 5 years | $-8,898 |
| 7 years | $-8,785 |
| 9 years | $-8,671 |
| 11 years | $-8,558 |
| 13 years | $-8,445 |
| 15 years | $-8,331 |
| 17 years | $-8,218 |
| 19 years | $-8,104 |
| 21 years | $-7,991 |
| 23 years | $-7,877 |
| 25 years | $-7,764 |
Top Solar Installers in Watchung
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your switch to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for you.
If you'd like to make the switch to solar but still aren't certain which solar system company to go with, here are our suggestions 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 Watchung
Factors that Affect Solar Panel Costs in Watchung
There are a number of criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key 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 raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The kind of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Watchung have solar loans, which reduce the initial cost of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Watchung, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may see 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 larger companies.
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 | $9,462 | 14.0 years |
| 8 kW | $2.83 | $15,822 | $12,926 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,545 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,320 | 13.2 years |
| 14 kW | $2.66 | $26,060 | $24,250 | 12.9 years |
| 16 kW | $2.60 | $29,163 | $28,334 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,574 | 12.4 years |
| 20 kW | $2.49 | $34,902 | $36,969 | 12.1 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good 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.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a quality company.
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 Watchung, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Watchung?
The average cost of solar panels in Watchung is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Watchung?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Watchung?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Watchung?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.