Solar Panel Cost Guide in Barclay, NJ (2024 Update)
- Barclay Solar Installation Cost: $11,511
- 25-Year Savings: $10,046
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Barclay
Here’s how much it might cost to install solar panels in Barclay.
The national average cost of solar panels is $2.66 per watt, but in Barclay it’s 4 per watt.Using this figure, a typical 4.7-kW system would cost about $11,511 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with.With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Barclay find investing in solar has a decent ROI.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Barclay
Year | Return on Investment |
---|---|
1 years | $-10,063 |
3 years | $-7,168 |
5 years | $-4,272 |
7 years | $-1,377 |
9 years | $1,518 |
11 years | $4,413 |
13 years | $7,309 |
15 years | $10,204 |
17 years | $13,099 |
19 years | $15,995 |
21 years | $18,890 |
23 years | $21,785 |
25 years | $24,680 |
Top Solar Installers in Barclay
Although it's possible to install solar panels on your own, it requires extra energy and knowledge. That's why almost all homeowners choose to hire a solar panel installer. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Barclay
Factors that Affect Solar Panel Costs in Barclay
Though the average cost of a solar system in Barclay is $11,511, your actual cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Barclay, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Barclay homeowners decide to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can affect the cost. Barclay’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Barclay know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $9,154 | 15.7 years |
8 kW | $3.60 | $20,163 | $12,600 | 15.4 years |
10 kW | $3.53 | $24,710 | $16,245 | 15.1 years |
12 kW | $3.46 | $29,059 | $20,087 | 14.8 years |
14 kW | $3.39 | $33,210 | $24,126 | 14.5 years |
16 kW | $3.32 | $37,164 | $28,364 | 14.2 years |
18 kW | $3.25 | $40,920 | $32,799 | 13.9 years |
20 kW | $3.18 | $44,478 | $37,431 | 13.6 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 find the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Contract: Though reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Barclay, NJ Solar Cost FAQs
How much does it cost to install solar panels in Barclay?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t opt for 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 solar panels."
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses 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.