Solar Panel Cost Guide in White Meadow Lake, NJ (2024 Update)
- White Meadow Lake Solar Installation Cost: $11,808
- 25-Year Savings: $7,743
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in White Meadow Lake
Let’s take a look at the average cost of solar in White Meadow Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in White Meadow Lake typically cost around 4.The average White Meadow Lake homeowner needs a 4.8-kilowatt system, which would cost about $11,808 with the federal tax credit, or $16,885 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you may differ based on factors unique to your home and what company you want to go with.With average savings of about $14,000 on energy bills over 20 years, many homeowners in White Meadow Lake find going solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in White Meadow Lake for a quote for your home.
Solar savings over time in White Meadow Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,749 |
| 3 years | $-8,630 |
| 5 years | $-6,512 |
| 7 years | $-4,394 |
| 9 years | $-2,275 |
| 11 years | $-157 |
| 13 years | $1,962 |
| 15 years | $4,080 |
| 17 years | $6,198 |
| 19 years | $8,317 |
| 21 years | $10,435 |
| 23 years | $12,554 |
| 25 years | $14,672 |
Top Solar Installers in White Meadow Lake
Trying to install solar panels on your own can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 White Meadow Lake
Factors that Affect Solar Panel Costs in White Meadow Lake
The cost of installing a solar system in White Meadow Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some 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 require 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 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 over time on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the White Meadow Lake average.
Solar Financing Terms
Most solar companies in White Meadow Lake provide solar loans, which reduce the initial cost of installing solar.It’s wise to include 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 final significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in White Meadow Lake, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in White Meadow Lake have more knowledge 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 | $5,936 | 18.1 years |
| 8 kW | $3.60 | $20,163 | $8,311 | 17.7 years |
| 10 kW | $3.53 | $24,710 | $10,882 | 17.4 years |
| 12 kW | $3.46 | $29,059 | $13,652 | 17.0 years |
| 14 kW | $3.39 | $33,210 | $16,619 | 16.7 years |
| 16 kW | $3.32 | $37,164 | $19,784 | 16.3 years |
| 18 kW | $3.25 | $40,920 | $23,147 | 16.0 years |
| 20 kW | $3.18 | $44,478 | $26,707 | 15.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully 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 what services you can expect from them.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as updating or replacing your electrical system or roof.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 White Meadow Lake, NJ Solar Cost FAQs
How much does it cost to install solar panels in White Meadow Lake?
This is a hard question to answer precisely, because the cost depends on a few different 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in White Meadow Lake?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $711.85 per year.
How long do solar panels last in White Meadow Lake?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.