Solar Panel Cost Guide in Waldwick, NJ (2024 Update)
- Waldwick Solar Installation Cost: $11,529
- 25-Year Savings: $8,958
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Waldwick
Find out how much it might cost to install solar panels in Waldwick.
The national average cost of solar panels is $2.66 per watt, but in Waldwick it’s 4 per watt.To cover the typical energy needs of the average home in Waldwick, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,529, or $16,486 before the federal solar tax credit of 0 is applied.
These figures are just averages, and your own solar costs may vary based on factors unique to your home and what company you want to go with.With typical savings of about $15,000 on power bills over 20 years, many homeowners in Waldwick find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar company in Waldwick for a quote for your home.
Solar savings over time in Waldwick
| 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 Waldwick
Many homeowners decide to use a solar installation company since trying to install solar panels yourself can be challenging. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you’d like to start using solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:
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 Waldwick
Factors that Affect Solar Panel Costs in Waldwick
Even though the average cost of a solar system in Waldwick is $11,529, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Waldwick, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
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 Waldwick homeowners choose to finance their solar panel systems to make going solar more affordable.It’s a good idea 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect how much you pay. Waldwick’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Waldwick are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $7,735 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,709 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $13,880 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,250 | 15.7 years |
| 14 kW | $3.39 | $33,210 | $20,816 | 15.4 years |
| 16 kW | $3.32 | $37,164 | $24,581 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,543 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,703 | 14.4 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly affects your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can check 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 Waldwick, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Waldwick?
The average cost of solar panels in Waldwick 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 things like 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 Waldwick?
Solar panels aren’t free in Waldwick, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much 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 get 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.