Solar Panel Cost Guide in Pompton Lakes, NJ (2024 Update)
- Pompton Lakes Solar Installation Cost: $11,798
- 25-Year Savings: $8,080
- Payback Period: 17.0 Years
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Average Cost of Solar Panels in Pompton Lakes
Find out how much it might cost to install solar panels in Pompton Lakes.
Although the national average of solar panels is $2.66 per watt, solar panels in Pompton Lakes generally cost around 4.The average Pompton Lakes homeowner needs a 4.8-kilowatt system, which would cost about $11,798 with the federal tax credit, or $16,871 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.Many homeowners find going solar is a sound investment. The average homeowner in Pompton Lakes can save about $14,000 on their power bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Pompton Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,739 |
| 3 years | $-8,620 |
| 5 years | $-6,502 |
| 7 years | $-4,384 |
| 9 years | $-2,265 |
| 11 years | $-147 |
| 13 years | $1,972 |
| 15 years | $4,090 |
| 17 years | $6,208 |
| 19 years | $8,327 |
| 21 years | $10,445 |
| 23 years | $12,564 |
| 25 years | $14,682 |
Top Solar Installers in Pompton Lakes
Installing solar panels on your own can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. The payback period of solar panels will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you're looking for a solar installer in Pompton Lakes, the EcoWatch team has put together a list of our top suggestions here:
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 Pompton Lakes
Factors that Affect Solar Panel Costs in Pompton Lakes
Although the average cost of a solar system in Pompton Lakes is $11,798, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation use 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 kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Pompton Lakes average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over five to seven years on average.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Pompton Lakes is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $6,369 | 17.7 years |
| 8 kW | $3.60 | $20,163 | $8,887 | 17.4 years |
| 10 kW | $3.53 | $24,710 | $11,603 | 17.0 years |
| 12 kW | $3.46 | $29,059 | $14,517 | 16.7 years |
| 14 kW | $3.39 | $33,210 | $17,628 | 16.3 years |
| 16 kW | $3.32 | $37,164 | $20,937 | 16.0 years |
| 18 kW | $3.25 | $40,920 | $24,444 | 15.7 years |
| 20 kW | $3.18 | $44,478 | $28,148 | 15.3 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 select the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Long-running companies likely have a good 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 service, such as part repairs and replacements.
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 Pompton Lakes, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Pompton Lakes?
The average cost of solar panels in Pompton Lakes is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost 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.
Does Pompton Lakes have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.