Solar Panel Cost Guide in Old Bridge, NJ (2024 Update)
- Old Bridge Solar Installation Cost: $11,564
- 25-Year Savings: $7,480
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Old Bridge
Let’s have a look at the average cost of solar in Old Bridge.
The national average cost of solar panels is $2.66 per watt, but in Old Bridge it’s 4 per watt.The average solar panel system size in Old Bridge 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.
These figures are only estimates, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you choose to go with.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on power bills.
To get a free quote from a pre-vetted solar installation company in Old Bridge, you can click the button below.
Solar savings over time in Old Bridge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,505 |
| 3 years | $-8,387 |
| 5 years | $-6,268 |
| 7 years | $-4,150 |
| 9 years | $-2,031 |
| 11 years | $87 |
| 13 years | $2,205 |
| 15 years | $4,324 |
| 17 years | $6,442 |
| 19 years | $8,561 |
| 21 years | $10,679 |
| 23 years | $12,797 |
| 25 years | $14,916 |
Top Solar Installers in Old Bridge
When going solar, many homeowners choose to go with a solar company since DIY solar panel installation can be a time-consuming project. Companies can also have access to various kinds of the best solar panels and help you pick which one will be right for you.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers nearby:
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 Old Bridge
Factors that Affect Solar Panel Costs in Old Bridge
For many Old Bridge homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Old Bridge, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.The brand and type of equipment you get for your solar system can raise or lower 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Old Bridge, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.While solar loans make going solar more accessible for Old Bridge homeowners, they can also raise 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
The solar company you select will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you want and also fit into your budget.
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 | $5,804 | 18.2 years |
| 8 kW | $3.60 | $20,163 | $8,134 | 17.8 years |
| 10 kW | $3.53 | $24,710 | $10,662 | 17.5 years |
| 12 kW | $3.46 | $29,059 | $13,387 | 17.1 years |
| 14 kW | $3.39 | $33,210 | $16,311 | 16.8 years |
| 16 kW | $3.32 | $37,164 | $19,431 | 16.4 years |
| 18 kW | $3.25 | $40,920 | $22,750 | 16.1 years |
| 20 kW | $3.18 | $44,478 | $26,266 | 15.7 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 a tough decision, we have some tips to help you, such as:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and how long the project will take.
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 Old Bridge, NJ Solar Cost FAQs
How much does it cost to install solar panels in Old Bridge?
The average cost of solar panels in Old Bridge 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 kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Old Bridge?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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.
Is going solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
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 level 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.