Solar Panel Cost Guide in Byram, NJ (2024 Update)
- Byram Solar Installation Cost: $11,874
- 25-Year Savings: $7,782
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Byram
Find out what the average cost of solar panel installation is in Byram.
The average cost of a solar panel system in Byram is 4 per watt.Because a 4.8-kW system is needed to cover the energy consumption of a typical home in Byram, the average price of going solar will be about $11,874 after claiming the federal solar tax credit of 0.
The true cost of your system can be higher or lower than the average in Byram based on a few factors, such as the type of solar panels you choose and the solar company you hire.Despite the high initial cost, the average Byram homeowner can save about $14,000 on their energy bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Byram
| Year | Return on Investment |
|---|---|
| 1 years | $-10,815 |
| 3 years | $-8,696 |
| 5 years | $-6,578 |
| 7 years | $-4,460 |
| 9 years | $-2,341 |
| 11 years | $-223 |
| 13 years | $1,896 |
| 15 years | $4,014 |
| 17 years | $6,132 |
| 19 years | $8,251 |
| 21 years | $10,369 |
| 23 years | $12,488 |
| 25 years | $14,606 |
Top Solar Installers in Byram
Although you can install solar panels on your own, it requires extra time and knowledge. For that reason, the majority of homeowners choose to hire a solar panel installer. Another great thing about going with a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
There are several 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 Byram
Factors that Affect Solar Panel Costs in Byram
The cost of installing a solar system in Byram can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Byram, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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
Most solar installers in Byram provide solar loans, which reduce your upfront costs of installing solar.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
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.Companies that only sell high-efficiency and high-priced products — 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 provides the products, warranties and services you want 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 | $3.67 | $15,419 | $5,932 | 18.1 years |
| 8 kW | $3.60 | $20,163 | $8,305 | 17.7 years |
| 10 kW | $3.53 | $24,710 | $10,875 | 17.4 years |
| 12 kW | $3.46 | $29,059 | $13,643 | 17.0 years |
| 14 kW | $3.39 | $33,210 | $16,609 | 16.7 years |
| 16 kW | $3.32 | $37,164 | $19,773 | 16.3 years |
| 18 kW | $3.25 | $40,920 | $23,134 | 16.0 years |
| 20 kW | $3.18 | $44,478 | $26,693 | 15.6 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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 Byram, NJ Solar Cost FAQs
How much does it cost to install solar panels in Byram?
This is a difficult 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 above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Byram?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Byram?
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 continue to use 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.