Solar Panel Cost Guide in Pequannock, NJ (2024 Update)
- Pequannock Solar Installation Cost: $11,808
- 25-Year Savings: $6,918
- Payback Period: 18.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Pequannock
We go over average solar pricing in Pequannock.
The national average cost of solar panels is $2.66 per watt, but in Pequannock it’s 4 per watt.Using this figure, a typical 4.8-kW system would cost about $11,808 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Pequannock based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.With typical savings of about $13,000 on utility bills over 20 years, many homeowners in Pequannock find investing in solar can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Pequannock
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in Pequannock
Putting up solar panels on your own can be a difficult task, which is why using a solar installer is a good option for many homeowners. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
There are various licensed solar professionals that can install solar panels for you. 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 Pequannock
Factors that Affect Solar Panel Costs in Pequannock
The cost of installing a solar system in Pequannock can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in Pequannock.The brand of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Pequannock homeowners choose to finance their solar panel systems to make paying for solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies in Pequannock, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $4,901 | 19.0 years |
| 8 kW | $3.60 | $20,163 | $6,930 | 18.6 years |
| 10 kW | $3.53 | $24,710 | $9,157 | 18.2 years |
| 12 kW | $3.46 | $29,059 | $11,581 | 17.9 years |
| 14 kW | $3.39 | $33,210 | $14,203 | 17.5 years |
| 16 kW | $3.32 | $37,164 | $17,023 | 17.1 years |
| 18 kW | $3.25 | $40,920 | $20,041 | 16.8 years |
| 20 kW | $3.18 | $44,478 | $23,256 | 16.4 years |
How to Save on Solar Panels
There are a lot of companies available in Pequannock, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- 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.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Pequannock, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Pequannock?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Are solar panels free in Pequannock?
You can’t get solar panels for free in Pequannock. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Pequannock is currently $489,586, which means you can look forward to a value of about $20,073 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Pequannock is a fruitful investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.