Solar Panel Cost Guide in Lawrenceville, NJ (2024 Update)
- Lawrenceville Solar Installation Cost: $11,653
- 25-Year Savings: $8,706
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Lawrenceville
Let’s have a look at the average cost of solar panels in Lawrenceville.
The national average cost of solar panels is $2.66 per watt, but in Lawrenceville it’s 4 per watt.The average solar panel system size in Lawrenceville is around 4.7 kilowatts, meaning a cost of about $11,653 for a solar installation, or $16,664 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may look different based on your specific situation and what company you choose to go with.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Lawrenceville find investing in solar can be quite rewarding.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lawrenceville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,231 |
| 3 years | $-7,386 |
| 5 years | $-4,541 |
| 7 years | $-1,697 |
| 9 years | $1,148 |
| 11 years | $3,993 |
| 13 years | $6,838 |
| 15 years | $9,682 |
| 17 years | $12,527 |
| 19 years | $15,372 |
| 21 years | $18,217 |
| 23 years | $21,061 |
| 25 years | $23,906 |
Top Solar Installers in Lawrenceville
Trying to put up solar panels yourself can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Some solar companies, especially local ones, can help you make the most of incentives in Lawrenceville, thereby optimizing your ROI.
There are several licensed solar professionals that can help you install your solar system. 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 Lawrenceville
Factors that Affect Solar Panel Costs in Lawrenceville
For many Lawrenceville homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Lawrenceville, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,530. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Lawrenceville have solar loans, which reduce the initial cost of installing solar panels.While solar loans make going solar more accessible for Lawrenceville homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can affect the cost. Lawrenceville’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 keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $7,292 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $10,117 | 16.6 years |
| 10 kW | $3.53 | $24,710 | $13,141 | 16.3 years |
| 12 kW | $3.46 | $29,059 | $16,362 | 16.0 years |
| 14 kW | $3.39 | $33,210 | $19,781 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,398 | 15.3 years |
| 18 kW | $3.25 | $40,920 | $27,212 | 15.0 years |
| 20 kW | $3.18 | $44,478 | $31,224 | 14.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you care about the longevity of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Lawrenceville, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Lawrenceville?
The average cost of solar panels in Lawrenceville 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $757.02 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.