Solar Panel Cost Guide in White Meadow Lake, NJ (2024 Update)
- White Meadow Lake Solar Installation Cost: $11,808
- 25-Year Savings: $7,743
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in White Meadow Lake
Let’s take a look at the average cost of solar in White Meadow Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in White Meadow Lake, the average cost of solar panels is 4 per watt.Since a 4.8-kW system is needed to cover the energy consumption of a typical home in White Meadow Lake, the average price of going solar will be about $11,808 after claiming the federal solar tax credit of 0.
The true price you pay can be above or below the average in White Meadow Lake depending on a few factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on utility bills.
You can click the button below to get connected with a vetted solar company in White Meadow Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in White Meadow Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in White Meadow Lake
Many homeowners opt for a solar installation company since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar company in White Meadow Lake, we've organized a list of our top suggestions here:
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 White Meadow Lake
Factors that Affect Solar Panel Costs in White Meadow Lake
Though the average cost of a solar system in White Meadow Lake is $11,808, your actual cost may differ. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar equipment you choose can increase or decrease your cost 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 in the long run on your power bills. In addition, add-on products, like solar batteries, can bring your total well above the White Meadow Lake average.
Solar Financing Terms
Most solar companies in White Meadow Lake offer solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 APR could reduce your costs remarkably.
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 panel companies operating throughout White Meadow Lake, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $5,936 | 18.1 years |
| 8 kW | $3.60 | $20,163 | $8,311 | 17.7 years |
| 10 kW | $3.53 | $24,710 | $10,882 | 17.4 years |
| 12 kW | $3.46 | $29,059 | $13,652 | 17.0 years |
| 14 kW | $3.39 | $33,210 | $16,619 | 16.7 years |
| 16 kW | $3.32 | $37,164 | $19,784 | 16.3 years |
| 18 kW | $3.25 | $40,920 | $23,147 | 16.0 years |
| 20 kW | $3.18 | $44,478 | $26,707 | 15.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 White Meadow Lake, NJ Solar Cost FAQs
How much does it cost to install solar panels in White Meadow Lake?
This is a tough question to answer precisely, because the cost depends on many 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. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in White Meadow Lake?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout White Meadow Lake, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of 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.