Solar Panel Cost Guide in Fair Lawn, NJ (2024 Update)
- Fair Lawn Solar Installation Cost: $11,529
- 25-Year Savings: $8,804
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Fair Lawn
Here’s how much it might cost to go solar in Fair Lawn.
The average cost of a solar system in Fair Lawn is 4 per watt.Because a 4.7-kW system is needed to cover the energy consumption of a typical home in Fair Lawn, the average price of going solar will be about $11,529 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Fair Lawn homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the large initial cost, the average Fair Lawn homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar installer in Fair Lawn for a custom estimate.
Solar savings over time in Fair Lawn
| Year | Return on Investment |
|---|---|
| 1 years | $-10,106 |
| 3 years | $-7,262 |
| 5 years | $-4,417 |
| 7 years | $-1,572 |
| 9 years | $1,273 |
| 11 years | $4,117 |
| 13 years | $6,962 |
| 15 years | $9,807 |
| 17 years | $12,652 |
| 19 years | $15,496 |
| 21 years | $18,341 |
| 23 years | $21,186 |
| 25 years | $24,031 |
Top Solar Installers in Fair Lawn
Many homeowners choose to hire a solar panel company since figuring out how to install solar panels by yourself can be challenging. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
There are several 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 Fair Lawn
Factors that Affect Solar Panel Costs in Fair Lawn
Although the average cost of a solar system in Fair Lawn is $11,529, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
When it comes to estimating the price of a solar energy system in Fair Lawn, one of the most important 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 figure out by looking at past energy bills. Your total cost can increase by around $3,530 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Fair Lawn average.
Solar Financing Terms
Most solar companies in Fair Lawn have solar loans, which reduce the initial cost of installing a solar system.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Fair Lawn, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $7,537 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,444 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,550 | 16.1 years |
| 12 kW | $3.46 | $29,059 | $16,853 | 15.8 years |
| 14 kW | $3.39 | $33,210 | $20,353 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $24,051 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $27,947 | 14.9 years |
| 20 kW | $3.18 | $44,478 | $32,041 | 14.5 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:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Fair Lawn, NJ Solar Cost FAQs
How much does it cost to install solar panels in Fair Lawn?
This is a hard question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Fair Lawn?
Leasing solar panels can be an appealing choice, because it usually 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fair Lawn is currently $605,602, so you could be looking at a value of about $24,830 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fair Lawn is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home 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.