Solar Panel Cost Guide in New Brunswick, NJ (2024 Update)
- New Brunswick 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 New Brunswick
Find out what the average cost of solar panels are in New Brunswick.
Currently, the national average cost of solar panels is $2.66 per watt. However, in New Brunswick, the typical cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in New Brunswick, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,564, or $16,537 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average New Brunswick 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.Many homeowners find installing solar panels is a rewarding investment. The average homeowner in New Brunswick can save around $14,000 on their energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in New Brunswick
| 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 New Brunswick
Installing solar panels by yourself can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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 New Brunswick
Factors that Affect Solar Panel Costs in New Brunswick
For many New Brunswick homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in New Brunswick, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in New Brunswick, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in New Brunswick, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can impact how much it costs. New Brunswick’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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 what services your solar company will provide and the terms of the warranty.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: When making the switch to solar power, it’s necessary to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
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 New Brunswick, NJ Solar Cost FAQs
What is the average cost of installing solar panels in New Brunswick?
The average cost of solar panels in New Brunswick 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in New Brunswick?
A solar panel system isn’t free in New Brunswick, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in New Brunswick?
The majority of states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.