Solar Panel Cost Guide in Princeton, WV (2023 Update)
- Princeton Solar Installation Cost: $20,051
- 25-Year Savings: $28,838
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Princeton
Find out how much it might cost to go solar in Princeton.
The national average cost of solar panels is $2.66 per watt, but in Princeton it's 2.64 per watt. Using this figure, a typical 10.8-kW system would cost about $20,051 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Princeton homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Princeton can save around $17,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Princeton
| Year | Return on Investment |
|---|---|
| 1 years | $-18,095 |
| 3 years | $-14,184 |
| 5 years | $-10,273 |
| 7 years | $-6,362 |
| 9 years | $-2,451 |
| 11 years | $1,460 |
| 13 years | $5,371 |
| 15 years | $9,283 |
| 17 years | $13,194 |
| 19 years | $17,105 |
| 21 years | $21,016 |
| 23 years | $24,927 |
| 25 years | $28,838 |
Top Solar Installers in Princeton
Many homeowners opt for a solar panel installer since installing solar panels by yourself can be a lot of work. The expertise that solar companies provide can be valuable as well, particularly if you aren't sure what type of solar equipment you need.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our recommendations for providers in Princeton:
Best Technology
Tesla Energy
- 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 Princeton
Factors that Affect Solar Panel Costs in Princeton
For many Princeton homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Princeton, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Princeton, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,640 for each additional kilowatt you need. The brand and kind of equipment you choose 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 have a higher price tag 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
Most solar installers in Princeton have solar loans, which reduce the initial cost of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Princeton, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you're looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.75 | $11,532 | $15,508 | 10.7 years |
| 8 kW | $2.69 | $15,080 | $20,972 | 10.5 years |
| 10 kW | $2.64 | $18,480 | $26,585 | 10.3 years |
| 12 kW | $2.59 | $21,732 | $32,346 | 10.0 years |
| 14 kW | $2.53 | $24,837 | $38,254 | 9.8 years |
| 16 kW | $2.48 | $27,794 | $44,310 | 9.6 years |
| 18 kW | $2.43 | $30,603 | $50,514 | 9.4 years |
| 20 kW | $2.38 | $33,264 | $56,866 | 9.2 years |
How to Save on Solar Panels
There are many companies to choose from in Princeton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies will have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- 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: When going solar, it's essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
Best Technology
Tesla Energy
- 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 Princeton, WV Solar Cost FAQs
How much does it cost to install solar panels in Princeton?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,200 for a 5-kW system and $26,400 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Princeton?
Leasing solar panels can be an appealing choice, because 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How will having solar panels impact my property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Princeton?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.