Solar Panel Cost Guide in Woodland Park, NJ (2023 Update)
- Woodland Park Solar Installation Cost: $9,258
- 25-Year Savings: $8,592
- Payback Period: 13.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodland Park
We break down average solar pricing in Woodland Park.
The average cost of a solar panel system in Woodland Park is 2.77 per watt. The average Woodland Park homeowner needs a 4.8-kilowatt system, which would cost about $9,249 with the federal tax credit, or $13,226 before the 30% tax credit is applied.
These figures are just averages, and how much solar costs for you may vary based on your specific situation and what company you want to go with. Even with the high upfront cost, the average Woodland Park homeowner can save about $14,000 on their energy bills over 20 years, which is one of the perks of solar.
To receive a free quote from a highly rated solar installer in Woodland Park, you can click the button below.
Solar savings over time in Woodland Park
| Year | Return on Investment |
|---|---|
| 1 years | $-7,836 |
| 3 years | $-4,991 |
| 5 years | $-2,146 |
| 7 years | $699 |
| 9 years | $3,543 |
| 11 years | $6,388 |
| 13 years | $9,233 |
| 15 years | $12,078 |
| 17 years | $14,922 |
| 19 years | $17,767 |
| 21 years | $20,612 |
| 23 years | $23,457 |
| 25 years | $26,301 |
Top Solar Installers in Woodland Park
Many homeowners opt for a solar panel company since installing solar panels by yourself can be challenging. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Woodland Park
Factors that Affect Solar Panel Costs in Woodland Park
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Woodland Park: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $2,770 per kilowatt in Woodland Park. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Woodland Park to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Woodland Park, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $10,332 | 13.5 years |
| 8 kW | $2.83 | $15,822 | $14,087 | 13.2 years |
| 10 kW | $2.77 | $19,390 | $17,996 | 13.0 years |
| 12 kW | $2.71 | $22,803 | $22,061 | 12.7 years |
| 14 kW | $2.66 | $26,060 | $26,280 | 12.4 years |
| 16 kW | $2.60 | $29,163 | $30,655 | 12.2 years |
| 18 kW | $2.55 | $32,110 | $35,185 | 11.9 years |
| 20 kW | $2.49 | $34,902 | $39,870 | 11.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Woodland Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based 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 be sure to peruse their list of offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid 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 read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Woodland Park, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Woodland Park?
This is a tough question to answer exactly, because the cost depends on a variety of 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Woodland Park?
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 home 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.
Does Woodland Park 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 utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.