Solar Panel Cost Guide in Lebanon, NJ (2024 Update)
- Lebanon Solar Installation Cost: $11,751
- 25-Year Savings: $6,963
- Payback Period: 18.2 Years
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Average Cost of Solar Panels in Lebanon
See how much it might cost to make the switch to solar in Lebanon.
The average cost of a solar panel system in Lebanon is 4 per watt.The average solar panel system size in Lebanon is around 4.8 kilowatts, meaning a cost of about $11,751 for a solar installation, or $16,804 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more.But, after you've paid the initial cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on energy bills.
To get a free quote from a pre-vetted solar company in Lebanon, you can click the button below.
Solar savings over time in Lebanon
Year | Return on Investment |
---|---|
1 years | $-10,692 |
3 years | $-8,574 |
5 years | $-6,455 |
7 years | $-4,337 |
9 years | $-2,218 |
11 years | $-100 |
13 years | $2,018 |
15 years | $4,137 |
17 years | $6,255 |
19 years | $8,374 |
21 years | $10,492 |
23 years | $12,610 |
25 years | $14,729 |
Top Solar Installers in Lebanon
Many homeowners opt for a solar installer since trying to install solar panels by yourself can be challenging. A solar installer can also help save you money in the long run by offering warranties, repairs and part replacements.
If you’d like to go solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers in Lebanon:
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 Lebanon
Factors that Affect Solar Panel Costs in Lebanon
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Lebanon: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.The type of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Lebanon, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.Though solar loans make switching to solar energy more accessible for Lebanon homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact your pricing. Lebanon’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Lebanon know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $4,999 | 18.9 years |
8 kW | $3.60 | $20,163 | $7,061 | 18.5 years |
10 kW | $3.53 | $24,710 | $9,320 | 18.2 years |
12 kW | $3.46 | $29,059 | $11,777 | 17.8 years |
14 kW | $3.39 | $33,210 | $14,432 | 17.4 years |
16 kW | $3.32 | $37,164 | $17,285 | 17.1 years |
18 kW | $3.25 | $40,920 | $20,335 | 16.7 years |
20 kW | $3.18 | $44,478 | $23,583 | 16.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
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 Lebanon, NJ Solar Cost FAQs
How much does it cost to install solar panels in Lebanon?
The average cost of solar panels in Lebanon 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 certain factors 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 consideration 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.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Lebanon?
On average, solar panels can last 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 higher 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.