Solar Panel Cost Guide in Bound Brook, NJ (2024 Update)

  • Bound Brook Solar Installation Cost: $11,701
  • 25-Year Savings: $8,668
  • Payback Period: 16.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Bound Brook

Let’s have a look at the average cost of solar in Bound Brook.

The national average cost of solar panels is $2.66 per watt, but in Bound Brook it’s 4 per watt.Because a 4.7-kW system is needed to cover the energy usage of a typical home in Bound Brook, the average price of going solar will be about $11,701 after claiming the federal solar tax credit of 0.

These figures are just averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with.With typical savings of about $14,000 on energy bills over 20 years, many homeowners in Bound Brook find going solar can be quite rewarding.

To receive a free estimate from a pre-vetted solar company in Bound Brook, you can click the button below.

Solar savings over time in Bound Brook

Year Return on Investment
1 years $-10,279
3 years $-7,434
5 years $-4,589
7 years $-1,745
9 years $1,100
11 years $3,945
13 years $6,790
15 years $9,634
17 years $12,479
19 years $15,324
21 years $18,168
23 years $21,013
25 years $23,858

Top Solar Installers in Bound Brook

DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar company can make your swap to solar power much easier. Plus, if you’re unsure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.

There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Bound Brook

Factors that Affect Solar Panel Costs in Bound Brook

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Bound Brook: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. There are several different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to install 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

For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Bound Brook, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.

Solar Panel Installation Company

Lastly, the company you choose to install your solar system can affect your pricing. Bound Brook’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 $7,198 17.0 years
8 kW $3.60 $20,163 $9,993 16.7 years
10 kW $3.53 $24,710 $12,985 16.4 years
12 kW $3.46 $29,059 $16,175 16.1 years
14 kW $3.39 $33,210 $19,563 15.7 years
16 kW $3.32 $37,164 $23,149 15.4 years
18 kW $3.25 $40,920 $26,932 15.1 years
20 kW $3.18 $44,478 $30,913 14.7 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:

  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
  • Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
  • Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Bound Brook, NJ Solar Cost FAQs

How much does it cost to install solar panels in Bound Brook?

The average cost of solar panels in Bound Brook is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Bound Brook?

You can’t get solar panels for free in Bound Brook. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.

How will solar panels impact my property value?

Solar panels can increase the value of your home considerably 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 solar panels."

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.

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.

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