Solar Panel Cost Guide in Verona, NJ (2024 Update)
- Verona Solar Installation Cost: $11,692
- 25-Year Savings: $8,676
- Payback Period: 16.4 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Verona
Find out what the average cost of a solar system is in Verona.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Verona, the typical cost of solar panels is 4 per watt.Using this figure, a typical 4.7-kW system would cost about $11,692 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Verona homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With typical savings of about $14,000 on utility bills over 20 years, many homeowners in Verona find installing solar panels can pay off big.
To receive a free estimate from a pre-vetted solar installation company in Verona, you can click the button below.
Solar savings over time in Verona
Year | Return on Investment |
---|---|
1 years | $-10,270 |
3 years | $-7,425 |
5 years | $-4,580 |
7 years | $-1,735 |
9 years | $1,109 |
11 years | $3,954 |
13 years | $6,799 |
15 years | $9,644 |
17 years | $12,488 |
19 years | $15,333 |
21 years | $18,178 |
23 years | $21,022 |
25 years | $23,867 |
Top Solar Installers in Verona
When going solar, many homeowners decide to use a solar installer since handling can be a difficult project. Companies can also have access to a large variety of the best solar panels and help you pick which one will be right for you.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
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 Verona
Factors that Affect Solar Panel Costs in Verona
The cost of installing a solar system in Verona can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, 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 about $3,530 per kilowatt in Verona.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your power bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Verona average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Verona homeowners choose to finance their solar panel systems to make paying for solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can play a part in determining how much you pay. Verona’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Verona know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $7,216 | 17.0 years |
8 kW | $3.60 | $20,163 | $10,017 | 16.7 years |
10 kW | $3.53 | $24,710 | $13,015 | 16.4 years |
12 kW | $3.46 | $29,059 | $16,211 | 16.0 years |
14 kW | $3.39 | $33,210 | $19,605 | 15.7 years |
16 kW | $3.32 | $37,164 | $23,196 | 15.4 years |
18 kW | $3.25 | $40,920 | $26,985 | 15.1 years |
20 kW | $3.18 | $44,478 | $30,972 | 14.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Solar Panel Brands: The kind of solar panel you’d like to install plays a part in which installer you should go with, since different companies offer different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
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 Verona, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Verona?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Verona?
Solar panels aren’t free in Verona, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
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.