Solar Panel Cost Guide in West Milford, NJ (2024 Update)
- West Milford Solar Installation Cost: $11,798
- 25-Year Savings: $8,668
- Payback Period: 16.5 Years
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Average Cost of Solar Panels in West Milford
We go over average solar pricing in West Milford.
In West Milford, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in West Milford, most homeowners require a 4.8-kilowatt system. Using the figure above, a solar installation costs about $11,798, or $16,871 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you choose to go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in West Milford can save around $14,000 on their electricity bills over 20 years.
To get a free quote from a highly rated solar company in West Milford, you can click the button below.
Solar savings over time in West Milford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,680 |
| 3 years | $-8,444 |
| 5 years | $-6,208 |
| 7 years | $-3,971 |
| 9 years | $-1,735 |
| 11 years | $501 |
| 13 years | $2,737 |
| 15 years | $4,973 |
| 17 years | $7,209 |
| 19 years | $9,445 |
| 21 years | $11,682 |
| 23 years | $13,918 |
| 25 years | $16,154 |
Top Solar Installers in West Milford
Installing solar panels on your own can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, particularly local ones, can help you take advantage of incentives in West Milford, optimizing your ROI.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in West Milford
Factors that Affect Solar Panel Costs in West Milford
For many West Milford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in West Milford, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like West Milford, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.When figuring 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 reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in West Milford, you’ll have plenty 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 due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $3.67 | $15,419 | $7,107 | 17.1 years |
| 8 kW | $3.60 | $20,163 | $9,872 | 16.8 years |
| 10 kW | $3.53 | $24,710 | $12,834 | 16.5 years |
| 12 kW | $3.46 | $29,059 | $15,994 | 16.1 years |
| 14 kW | $3.39 | $33,210 | $19,352 | 15.8 years |
| 16 kW | $3.32 | $37,164 | $22,907 | 15.5 years |
| 18 kW | $3.25 | $40,920 | $26,660 | 15.1 years |
| 20 kW | $3.18 | $44,478 | $30,610 | 14.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Long-running companies likely have a solid 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: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's West Milford, NJ Solar Cost FAQs
How much does it cost to install solar panels in West Milford?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 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 needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in West Milford?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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.
Does West Milford have a net metering program?
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 power bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.