Solar Panel Cost Guide in River Edge, NJ (2024 Update)

  • River Edge Solar Installation Cost: $11,529
  • 25-Year Savings: $8,804
  • Payback Period: 16.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in River Edge

Find out what the average cost of solar panels are in River Edge.

In River Edge, solar panels cost about 4 per watt on average.The average River Edge homeowner needs a 4.7-kilowatt system, which would cost about $11,529 with the federal tax credit, or $16,486 before the 0 tax credit is applied.

These figures are just averages, and how much solar costs for you will differ based on the amount of energy your home requires and what company you go with.Even with the significant initial cost, the average River Edge homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.

To receive a free quote from a top solar installer in River Edge, you can click the button below.

Solar savings over time in River Edge

Year Return on Investment
1 years $-10,106
3 years $-7,262
5 years $-4,417
7 years $-1,572
9 years $1,273
11 years $4,117
13 years $6,962
15 years $9,807
17 years $12,652
19 years $15,496
21 years $18,341
23 years $21,186
25 years $24,031

Top Solar Installers in River Edge

When making the switch to solar, many homeowners decide to hire a solar installation company since putting up solar panels yourself can be a challenging project. Another perk of using a solar installer is that they can help you maximize your return of investment by cutting back on future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

Working with a professional solar company can make going solar easier. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 River Edge

Factors that Affect Solar Panel Costs in River Edge

Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in River Edge: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,530.The type 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. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the River Edge average.

Solar Financing Terms

Most solar companies in River Edge provide solar loans, which reduce the initial cost of installing solar.Though solar loans make adopting solar energy more accessible for River Edge homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Lastly, the company you choose to install your solar system can play a role in determining the cost. River Edge’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 $7,537 16.8 years
8 kW $3.60 $20,163 $10,444 16.5 years
10 kW $3.53 $24,710 $13,550 16.1 years
12 kW $3.46 $29,059 $16,853 15.8 years
14 kW $3.39 $33,210 $20,353 15.5 years
16 kW $3.32 $37,164 $24,051 15.2 years
18 kW $3.25 $40,920 $27,947 14.9 years
20 kW $3.18 $44,478 $32,041 14.5 years

How to Save on Solar Panels

The solar panel company you go with will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:

  • Solar Panel Brands: The type of solar panel you’d like plays a role in which company you should go with, since different companies provide different panels.
  • Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
  • Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's River Edge, NJ Solar Cost FAQs

What is the average cost of installing solar panels in River Edge?

The average cost of solar panels in River Edge 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.

Can you get solar panels for free in River Edge?

You can’t get solar panels for free in River Edge. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How much can I save on energy bills after installing solar panels?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout River Edge, that will require at least a 10-kW system. Not all homes 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 long do solar panels last in River Edge?

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 higher 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.

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