Solar Panel Cost Guide in Wayne, NJ (Jan 2023)
- Wayne Solar Installation Cost: $9,249
- 25-Year Savings: $8,235
- Payback Period: 13.2 Years
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Top Solar Installers in Wayne
Although you can install solar panels on your own, it involves extra time and knowledge. That's one of the reasons most people choose a solar panel installer. The expertise that solar companies offer can be helpful as well, particularly if you don't quite know what type of solar equipment you need.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Wayne
Factors that Affect Solar Panel Costs in Wayne
Though the average cost of a solar system in Wayne is $9,249, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
When it comes to estimating the cost of a solar system in Wayne, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall 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 raise or lower 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Wayne have solar loans, which reduce the initial cost of installing solar. While solar loans make adopting solar energy more accessible for Wayne homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Wayne, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Wayne are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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||$2.88||$12,099||$9,872||13.8 years|
|8 kW||$2.83||$15,822||$13,473||13.5 years|
|10 kW||$2.77||$19,390||$17,230||13.2 years|
|12 kW||$2.71||$22,803||$21,141||13.0 years|
|14 kW||$2.66||$26,060||$25,207||12.7 years|
|16 kW||$2.60||$29,163||$29,429||12.4 years|
|18 kW||$2.55||$32,110||$33,805||12.2 years|
|20 kW||$2.49||$34,902||$38,337||11.9 years|
How to Save on Solar Panels
The solar installer you opt for 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 can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
EcoWatch's Wayne, NJ Solar Cost FAQs
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.