Solar Panel Cost Guide in Kenilworth, NJ (2024 Update)
- Kenilworth Solar Installation Cost: $11,528
- 25-Year Savings: $7,971
- Payback Period: 16.9 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Kenilworth
Let’s take a look at the average cost of solar panels in Kenilworth.
In Kenilworth, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Kenilworth, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,528, or $16,485 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want, your solar contractor and more.With average savings of about $14,000 on electricity bills over 20 years, many homeowners in Kenilworth find installing solar panels can be quite rewarding.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Kenilworth
Year | Return on Investment |
---|---|
1 years | $-10,469 |
3 years | $-8,351 |
5 years | $-6,232 |
7 years | $-4,114 |
9 years | $-1,996 |
11 years | $123 |
13 years | $2,241 |
15 years | $4,360 |
17 years | $6,478 |
19 years | $8,596 |
21 years | $10,715 |
23 years | $12,833 |
25 years | $14,952 |
Top Solar Installers in Kenilworth
Putting up solar panels on your own can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Solar warranties and repairs are often included in the cost of installation when you hire a solar contractor as well, which can save you more money after your upfront investment.
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 in Kenilworth:
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 Kenilworth
Factors that Affect Solar Panel Costs in Kenilworth
The cost of installing a solar system in Kenilworth can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,530. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this 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 available from most installers in Kenilworth, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence how much it costs. Kenilworth’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to 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 | $6,466 | 17.6 years |
8 kW | $3.60 | $20,163 | $9,016 | 17.3 years |
10 kW | $3.53 | $24,710 | $11,764 | 16.9 years |
12 kW | $3.46 | $29,059 | $14,710 | 16.6 years |
14 kW | $3.39 | $33,210 | $17,854 | 16.3 years |
16 kW | $3.32 | $37,164 | $21,195 | 15.9 years |
18 kW | $3.25 | $40,920 | $24,734 | 15.6 years |
20 kW | $3.18 | $44,478 | $28,471 | 15.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Kenilworth, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you’re concerned about the durability of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely offer good-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 Kenilworth, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Kenilworth?
The average cost of solar panels in Kenilworth is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Kenilworth?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Kenilworth?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
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 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 household 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.