Solar Panel Cost Guide in Short Hills, NJ (2024 Update)
- Short Hills Solar Installation Cost: $11,692
- 25-Year Savings: $7,842
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Short Hills
We go over average solar pricing in Short Hills.
The average cost of solar panels in Short Hills is 4 per watt.The average solar panel system size in Short Hills is around 4.7 kilowatts, meaning a cost of about $11,692 for a solar installation, or $16,720 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar system you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $14,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Short Hills for a quote for your home.
Solar savings over time in Short Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-10,633 |
| 3 years | $-8,514 |
| 5 years | $-6,396 |
| 7 years | $-4,278 |
| 9 years | $-2,159 |
| 11 years | $-41 |
| 13 years | $2,078 |
| 15 years | $4,196 |
| 17 years | $6,314 |
| 19 years | $8,433 |
| 21 years | $10,551 |
| 23 years | $12,670 |
| 25 years | $14,788 |
Top Solar Installers in Short Hills
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your switch to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you don’t quite know what type of solar equipment would be right for your home.
If you’d like to make the switch to solar but still aren’t certain which solar installer 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 Short Hills
Factors that Affect Solar Panel Costs in Short Hills
The cost of installing a solar system in Short Hills can vary by more than $10,000 from home to home. Your actual cost depends 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 installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in Short Hills.There are many different solar panel brands and the one you choose also changes the cost. Usually, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to factor 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that has the products, warranties and services you want and also is within 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 | $6,159 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,608 | 17.5 years |
| 10 kW | $3.53 | $24,710 | $11,254 | 17.2 years |
| 12 kW | $3.46 | $29,059 | $14,098 | 16.8 years |
| 14 kW | $3.39 | $33,210 | $17,139 | 16.5 years |
| 16 kW | $3.32 | $37,164 | $20,378 | 16.1 years |
| 18 kW | $3.25 | $40,920 | $23,815 | 15.8 years |
| 20 kW | $3.18 | $44,478 | $27,450 | 15.5 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- 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: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure to read it through carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
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 Short Hills, NJ Solar Cost FAQs
How much does it cost to install solar panels in Short Hills?
The average cost of solar panels in Short Hills 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 certain factors like 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 Short Hills?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 way to go if you want to get the most savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $719.28 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 buy 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.