Solar Panel Cost Guide in West Caldwell, NJ (Mar 2023)
- West Caldwell Solar Installation Cost: $9,171
- 25-Year Savings: $7,846
- Payback Period: 13.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in West Caldwell
Find out how much it might cost to switch to solar power in West Caldwell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in West Caldwell, the typical cost of solar panels is 2.77 per watt. Because a 4.7-kW system is needed to cover the energy usage of a typical home in West Caldwell, the average price of going solar will be about $9,171 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Despite the significant upfront cost, the average West Caldwell homeowner can save about $14,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in West Caldwell
| Year | Return on Investment |
|---|---|
| 1 years | $-8,491 |
| 3 years | $-7,129 |
| 5 years | $-5,768 |
| 7 years | $-4,407 |
| 9 years | $-3,045 |
| 11 years | $-1,684 |
| 13 years | $-323 |
| 15 years | $1,039 |
| 17 years | $2,400 |
| 19 years | $3,761 |
| 21 years | $5,123 |
| 23 years | $6,484 |
| 25 years | $7,846 |
Top Solar Installers in West Caldwell
When making the switch to solar, many homeowners prefer to go with a solar company since installing a solar system yourself can be a challenging project. Some solar companies, especially local ones, can help you make the most of incentives in West Caldwell, thereby optimizing your ROI.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers in West Caldwell:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in West Caldwell
Factors that Affect Solar Panel Costs in West Caldwell
There are many criteria that can play into your total 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
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type 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 are often more expensive 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 will be looking at 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 increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many West Caldwell homeowners decide to finance their solar panel systems to offset upfront costs. 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
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 West Caldwell is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. Additionally, some companies in West Caldwell know more about local solar incentives and can help you make good use 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 | $2.88 | $12,099 | $9,479 | 14.0 years |
| 8 kW | $2.83 | $15,822 | $12,949 | 13.7 years |
| 10 kW | $2.77 | $19,390 | $16,574 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,354 | 13.2 years |
| 14 kW | $2.66 | $26,060 | $24,289 | 12.9 years |
| 16 kW | $2.60 | $29,163 | $28,380 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,625 | 12.4 years |
| 20 kW | $2.49 | $34,902 | $37,026 | 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 picking a company can be difficult, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign 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
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's West Caldwell, NJ Solar Cost FAQs
What is the average cost of installing solar panels in West Caldwell?
This is a tough question to answer exactly, because the cost depends on a few different 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 additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is a very important 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.
Can you sell solar power back to the grid in West Caldwell?
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 utility bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.