Solar Panel Cost Guide in Caldwell, NJ (2024 Update)
- Caldwell Solar Installation Cost: $11,692
- 25-Year Savings: $7,842
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Caldwell
Find out how much it might cost to switch to solar power in Caldwell.
The national average cost of solar panels is $2.66 per watt, but in Caldwell it’s 4 per watt.Using this figure, a typical 4.7-kW system would cost about $11,692 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Caldwell
| Year | Return on Investment |
|---|---|
| 1 years | $-10,633 |
| 3 years | $-8,514 |
| 5 years | $-6,396 |
| 7 years | $-4,278 |
| 9 years | $-2,159 |
| 11 years | $-41 |
| 13 years | $2,078 |
| 15 years | $4,196 |
| 17 years | $6,314 |
| 19 years | $8,433 |
| 21 years | $10,551 |
| 23 years | $12,670 |
| 25 years | $14,788 |
Top Solar Installers in Caldwell
When making the switch to solar, many homeowners opt to go with a solar company since putting up a solar system yourself can be a difficult project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money after your initial investment.
There are various licensed solar professionals that can take care of your solar installation project. 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 Caldwell
Factors that Affect Solar Panel Costs in Caldwell
For many Caldwell homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Caldwell, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,530. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Caldwell, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Caldwell, which can lower, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total 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 original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Caldwell, you’ll have lots of options to choose from, but each comes at various price points 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 cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fit into 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 | $6,159 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,608 | 17.5 years |
| 10 kW | $3.53 | $24,710 | $11,254 | 17.2 years |
| 12 kW | $3.46 | $29,059 | $14,098 | 16.8 years |
| 14 kW | $3.39 | $33,210 | $17,139 | 16.5 years |
| 16 kW | $3.32 | $37,164 | $20,378 | 16.1 years |
| 18 kW | $3.25 | $40,920 | $23,815 | 15.8 years |
| 20 kW | $3.18 | $44,478 | $27,450 | 15.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you want to install plays a role in which company you should choose, since different companies have different panels.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
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 Caldwell, NJ Solar Cost FAQs
How much does it cost to install solar panels in Caldwell?
This is a tough question to answer exactly, because the cost depends on many factors. Generally 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Caldwell?
You can’t get solar panels for free in Caldwell. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go 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 a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 buy 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.