Solar Panel Cost Guide in Wayne, NJ (2024 Update)

  • Wayne Solar Installation Cost: $11,798
  • 25-Year Savings: $8,227
  • Payback Period: 16.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Wayne

Here’s how much it might cost to go solar in Wayne.

Although the national average of solar panels is $2.66 per watt, solar panels in Wayne generally cost around 4.The average solar panel system size in Wayne is around 4.8 kilowatts, meaning a cost of about $11,798 for a solar installation, or $16,871 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of installing solar panels can vary depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Wayne see about $14,000 in savings on utility bills over 20 years.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Wayne

Year Return on Investment
1 years $-10,739
3 years $-8,620
5 years $-6,502
7 years $-4,384
9 years $-2,265
11 years $-147
13 years $1,972
15 years $4,090
17 years $6,208
19 years $8,327
21 years $10,445
23 years $12,564
25 years $14,682

Top Solar Installers in Wayne

Many homeowners decide to hire a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. Some solar installers, especially local ones, can help you better understand incentives in Wayne, thereby optimizing your ROI.

If you're searching for a solar installer in Wayne, we've organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Wayne

Factors that Affect Solar Panel Costs in Wayne

There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Wayne average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Wayne, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s crucial to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.

Solar Panel Installation Company

The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Wayne, and each can charge different amounts for labor and equipment.Additionally, some companies in Wayne are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save 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 $3.67 $15,419 $6,553 17.5 years
8 kW $3.60 $20,163 $9,132 17.2 years
10 kW $3.53 $24,710 $11,910 16.9 years
12 kW $3.46 $29,059 $14,885 16.5 years
14 kW $3.39 $33,210 $18,057 16.2 years
16 kW $3.32 $37,164 $21,428 15.9 years
18 kW $3.25 $40,920 $24,995 15.5 years
20 kW $3.18 $44,478 $28,761 15.2 years

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose greatly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
  • Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
  • Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Wayne, NJ Solar Cost FAQs

How much does it cost to install solar panels in Wayne?

The average cost of solar panels in Wayne is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in Wayne?

Solar panels aren’t free in Wayne, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.

Can you sell solar power back to the grid in Wayne?

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 offer you credit toward your future energy bills.

How long do solar panels last in Wayne?

Although 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 once you've had them for that long or you can keep using 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.

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