Solar Panel Cost Guide in Bloomingdale, NJ (2024 Update)
- Bloomingdale Solar Installation Cost: $11,798
- 25-Year Savings: $8,304
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Bloomingdale
Find out what the average cost of solar panel installation is in Bloomingdale.
The average cost of a solar panel system in Bloomingdale is 4 per watt.The average Bloomingdale homeowner needs a 4.8-kilowatt system, which would cost about $11,798 with the federal tax credit, or $16,871 before the 0 tax credit is applied.
The actual price you pay can go above or below the average in Bloomingdale depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire.For most homeowners, the upfront investment in solar panels is worth paying. On average Bloomingdale homeowners see about $14,000 in savings on electricity bills over 20 years.
To get a free quote from a pre-vetted solar company in Bloomingdale, you can click the button below.
Solar savings over time in Bloomingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,739 |
| 3 years | $-8,620 |
| 5 years | $-6,502 |
| 7 years | $-4,384 |
| 9 years | $-2,265 |
| 11 years | $-147 |
| 13 years | $1,972 |
| 15 years | $4,090 |
| 17 years | $6,208 |
| 19 years | $8,327 |
| 21 years | $10,445 |
| 23 years | $12,564 |
| 25 years | $14,682 |
Top Solar Installers in Bloomingdale
When making the switch to solar, many homeowners prefer to go with a solar installation company since DIY solar panel installation can be a time-consuming project. Another great thing about going with a top solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you're looking for a solar company in Bloomingdale, the EcoWatch team has put together a list of our top suggestions here:
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 Bloomingdale
Factors that Affect Solar Panel Costs in Bloomingdale
For many Bloomingdale homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Bloomingdale, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Bloomingdale, 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 usage, which you can determine by looking at past power bills. Your overall cost can increase by around $3,530 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Bloomingdale to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.However, the interest on solar loans also increases your overall costs, so it’s vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $3.67 | $15,419 | $6,649 | 17.5 years |
| 8 kW | $3.60 | $20,163 | $9,261 | 17.1 years |
| 10 kW | $3.53 | $24,710 | $12,071 | 16.8 years |
| 12 kW | $3.46 | $29,059 | $15,078 | 16.5 years |
| 14 kW | $3.39 | $33,210 | $18,283 | 16.1 years |
| 16 kW | $3.32 | $37,164 | $21,685 | 15.8 years |
| 18 kW | $3.25 | $40,920 | $25,286 | 15.5 years |
| 20 kW | $3.18 | $44,478 | $29,083 | 15.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose considerably impacts your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
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 Bloomingdale, NJ Solar Cost FAQs
How much does it cost to install solar panels in Bloomingdale?
This is a hard question to answer exactly, because the cost depends on many 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 be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Bloomingdale?
Leasing solar panels can be an appealing choice, as it often 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 maximize your savings.
Does Bloomingdale have a net metering program?
Each state has some kind 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, solar panels can last 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 higher level 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.