Solar Panel Cost Guide in White Meadow Lake, NJ (2023 Update)
- White Meadow Lake Solar Installation Cost: $9,268
- 25-Year Savings: $7,740
- Payback Period: 13.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in White Meadow Lake
We break down average solar pricing in White Meadow Lake.
The average cost of solar panels in White Meadow Lake is 2.77 per watt. To cover the typical energy needs of the average home in White Meadow Lake, most homeowners require a 4.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,268, or $13,253 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in White Meadow Lake see about $14,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a personalized estimate.
Solar savings over time in White Meadow Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-8,588 |
| 3 years | $-7,227 |
| 5 years | $-5,867 |
| 7 years | $-4,506 |
| 9 years | $-3,145 |
| 11 years | $-1,785 |
| 13 years | $-424 |
| 15 years | $937 |
| 17 years | $2,297 |
| 19 years | $3,658 |
| 21 years | $5,019 |
| 23 years | $6,379 |
| 25 years | $7,740 |
Top Solar Installers in White Meadow Lake
When switching to solar energy, many homeowners choose to go with a solar company since overseeing your solar installation yourself can be a time-consuming project. Some solar installers, especially local ones, can help you better understand incentives in White Meadow Lake, optimizing your ROI.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
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 $9,268, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of solar panels in White Meadow Lake, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in White Meadow Lake, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact the cost. White Meadow Lake's solar companies all have different labor costs and add varying upcharges to 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 access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $2.88 | $12,099 | $9,256 | 14.2 years |
| 8 kW | $2.83 | $15,822 | $12,652 | 13.9 years |
| 10 kW | $2.77 | $19,390 | $16,202 | 13.6 years |
| 12 kW | $2.71 | $22,803 | $19,908 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $23,769 | 13.1 years |
| 16 kW | $2.60 | $29,163 | $27,785 | 12.8 years |
| 18 kW | $2.55 | $32,110 | $31,957 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,283 | 12.3 years |
How to Save on Solar Panels
The solar installer you go with 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 some important things you should take into account, such as:
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- 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 the exact one you may want or need, so make sure you peruse their list of offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established 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 get the job done well. Another way you can look into your installer's reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's White Meadow Lake, NJ Solar Cost FAQs
What is the average cost of installing solar panels in White Meadow Lake?
The average cost of solar panels in White Meadow Lake is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out 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.