Solar Panel Cost Guide in Commercial, NJ (2024 Update)
- Commercial Solar Installation Cost: $11,168
- 25-Year Savings: $14,506
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Commercial
We go over average solar pricing in Commercial.
Although the national average of solar panels is $2.66 per watt, solar panels in Commercial generally cost around 4.Using this figure, a typical 4.5-kW system would cost about $11,168 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more.With average savings of about $20,000 on utility bills over 20 years, many homeowners in Commercial find going solar has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Commercial
| Year | Return on Investment |
|---|---|
| 1 years | $-9,670 |
| 3 years | $-6,674 |
| 5 years | $-3,677 |
| 7 years | $-681 |
| 9 years | $2,315 |
| 11 years | $5,312 |
| 13 years | $8,308 |
| 15 years | $11,305 |
| 17 years | $14,301 |
| 19 years | $17,297 |
| 21 years | $20,294 |
| 23 years | $23,290 |
| 25 years | $26,286 |
Top Solar Installers in Commercial
Although it's possible to install solar panels by yourself, it involves extra labor and knowledge. That's one of the reasons the majority of homeowners choose a solar panel installer. The expertise that solar companies offer can be invaluable as well, particularly if you aren’t sure what type of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Commercial
Factors that Affect Solar Panel Costs in Commercial
There are many criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Commercial, 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
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Commercial homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Commercial, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $15,472 | 12.5 years |
| 8 kW | $3.60 | $20,163 | $21,024 | 12.2 years |
| 10 kW | $3.53 | $24,710 | $26,775 | 12.0 years |
| 12 kW | $3.46 | $29,059 | $32,723 | 11.8 years |
| 14 kW | $3.39 | $33,210 | $38,868 | 11.5 years |
| 16 kW | $3.32 | $37,164 | $45,212 | 11.3 years |
| 18 kW | $3.25 | $40,920 | $51,753 | 11.0 years |
| 20 kW | $3.18 | $44,478 | $58,492 | 10.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: Although 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 how part repairs and replacements will be handled.
- Installation Process: When making the switch to solar, it’s crucial to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
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 Commercial, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Commercial?
The average cost of solar panels in Commercial 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,029.70 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.