Solar Panel Cost Guide in Metuchen, NJ (2024 Update)
- Metuchen Solar Installation Cost: $11,564
- 25-Year Savings: $8,776
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Metuchen
Find out what the average cost of a solar system is in Metuchen.
While the national average of solar panels is $2.66 per watt, solar panels in Metuchen generally cost around 4.The average solar panel system size in Metuchen is around 4.7 kilowatts, meaning a cost of about $11,564 for a solar installation, or $16,537 before the 0 federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Metuchen depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.But, once you've paid the initial cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on power bills.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Metuchen
| Year | Return on Investment |
|---|---|
| 1 years | $-10,142 |
| 3 years | $-7,297 |
| 5 years | $-4,452 |
| 7 years | $-1,608 |
| 9 years | $1,237 |
| 11 years | $4,082 |
| 13 years | $6,927 |
| 15 years | $9,771 |
| 17 years | $12,616 |
| 19 years | $15,461 |
| 21 years | $18,306 |
| 23 years | $21,150 |
| 25 years | $23,995 |
Top Solar Installers in Metuchen
Installing solar panels yourself can be a time-consuming undertaking, which is why using a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you take advantage of incentives in Metuchen, thereby optimizing your ROI.
If you’d like to start using solar energy but still aren’t certain which solar system installer to go with, here are our suggestions for providers in Metuchen:
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 Metuchen
Factors that Affect Solar Panel Costs in Metuchen
There are many criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Metuchen, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $3,530 for each additional kilowatt you need.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Metuchen average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Metuchen, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 remarkably.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in Metuchen, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $7,466 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,350 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,432 | 16.2 years |
| 12 kW | $3.46 | $29,059 | $16,711 | 15.9 years |
| 14 kW | $3.39 | $33,210 | $20,188 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $23,863 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $27,736 | 14.9 years |
| 20 kW | $3.18 | $44,478 | $31,806 | 14.6 years |
How to Save on Solar Panels
The solar company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate 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 part breaking or if the company goes out of business.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project completion timeline.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Metuchen, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Metuchen?
The average cost of solar panels in Metuchen 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 model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Metuchen?
Leasing solar panels can be an appealing choice, as 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.
How much can I save on electricity bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Metuchen, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.