Solar Panel Cost Guide in Wyckoff, NJ (Aug 2022)
- Wyckoff Solar Installation Cost: $9,573
- 25-Year Savings: $8,432
- Payback Period: 13.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated 7/19/2022
Why you can trust EcoWatch
Average Cost of Solar Panels in Wyckoff
We break down average solar pricing in Wyckoff.
In Wyckoff, solar panels cost about $3 per watt on average. The average solar panel system size in Wyckoff is around 4.7 kilowatts, meaning a cost of about $9,573 for a solar installation, or $7,084 after the federal solar tax credit is applied.
These figures are just averages, and your own solar costs may differ based on your energy needs and what company you want to go with. Despite the large upfront cost, the average Wyckoff homeowner can save about $15,000 on their energy bills over 20 years, which is one of the perks of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Wyckoff
| Year | Return on Investment |
|---|---|
| 1 years | $-8,852 |
| 3 years | $-7,412 |
| 5 years | $-5,972 |
| 7 years | $-4,531 |
| 9 years | $-3,091 |
| 11 years | $-1,650 |
| 13 years | $-210 |
| 15 years | $1,230 |
| 17 years | $2,671 |
| 19 years | $4,111 |
| 21 years | $5,551 |
| 23 years | $6,992 |
| 25 years | $8,432 |
Top Solar Installers in Wyckoff
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make switching to solar much easier. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
If you'd like to switch to solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers in Wyckoff:
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
The Green Panel
- 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 Wyckoff
Factors that Affect Solar Panel Costs in Wyckoff
Although the average cost of solar panels in Wyckoff is $9,573, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment Size
Size is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Wyckoff homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increase your all-in costs, so it's vital to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Wyckoff is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better 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 | $12,791 | $10,364 | 13.8 years |
| 8 kW | $2.83 | $16,726 | $14,146 | 13.5 years |
| 10 kW | $2.77 | $20,498 | $18,092 | 13.3 years |
| 12 kW | $2.71 | $24,106 | $22,203 | 13.0 years |
| 14 kW | $2.66 | $27,549 | $26,477 | 12.7 years |
| 16 kW | $2.60 | $30,829 | $30,916 | 12.5 years |
| 18 kW | $2.55 | $33,945 | $35,518 | 12.2 years |
| 20 kW | $2.49 | $36,896 | $40,285 | 12.0 years |
Solar Incentives in Wyckoff
| Name | NJ Clean Energy- Residential New Construction Program |
| Incentive Amount | Incentives depend on the HERS score and the classification Single family homes: Ranges from $1,125 to - 24,250 Multi-single homes: Ranges from $1,125 to $18,188 Multifamily homes: Ranges from $625-$12,125 |
| Incentive Max | Multifamily: up to $12,125 Individual homes: up to $24,250 |
| Website | Visit here |
| More Info | Click here |
| Name | Property Tax Exemption for Renewable Energy Systems |
| Incentive Amount | 100% of value added by renewable system |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Solar Renewable Energy Certificates (SRECs) Registration Program |
| Incentive Amount | Determined by the market. In June 2016, SREC traded at an average price of $229.90. |
| Incentive Max | Maximum price set by the SACP for the particular year. |
| Website | Visit here |
| More Info | Click here |
| Name | PSE&G - Solar Loan Program |
| Website | Visit here |
| More Info | Click here |
| Name | Successor Solar Incentive (SuSI) Program |
| Incentive Amount | Net-Metered Residential: $90/SREC-II Small Net-Metered Non-Residential located on Rooftop, Carport, Canopy and Floating Solar Projects smaller than 1 MW (dc): $100/SREC-II, $120 for public entities Projects 1 MW to 5 MW (dc): $90/SREC-II, $110 for public entities Net Metered Non-Residential Ground Mount Projects smaller than 1 MW (dc): $85/SREC-II, $105 for public entities Projects 1 MW to 5 MW (dc): $80/SREC-II, $100 for public entities Community Solar LMI: $90/SREC-II Community Solar Non-LMI: $70/SREC-II |
| Incentive Max | MW-DC Capacity Blocks Net Metered Residential: 150 MW Net Metered Non-Residential: 150 MW Community Solar (LMI and Non-LMI): 150 MW |
| Website | Visit here |
| More Info | Click here |
| Name | Solar Energy Sales Tax Exemption |
| Incentive Amount | 100% exemption |
| Incentive Max | None |
| More Info | Click here |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose have an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model 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 take a look at their list of offerings before deciding.
- 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.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
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
The Green Panel
- 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 Wyckoff, NJ Solar Cost FAQs
How much does it cost to install solar panels in Wyckoff?
The average cost of solar panels in Wyckoff 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 type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Wyckoff, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.
