Solar Panel Cost Guide in Englewood, NJ (2024 Update)
- Englewood Solar Installation Cost: $11,529
- 25-Year Savings: $8,804
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Englewood
See how much it might cost to go solar in Englewood.
The national average cost of solar panels is $2.66 per watt, but in Englewood it’s 4 per watt.Since a 4.7-kW system is needed to cover the energy usage of a typical home in Englewood, the average price of going solar will be about $11,529 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Englewood homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the large initial cost, the average Englewood homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free quote from a pre-vetted solar installation company in Englewood, you can click the button below.
Solar savings over time in Englewood
| 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 Englewood
When going solar, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Also, if you’d like to maximize your investment in solar energy, using a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Englewood
Factors that Affect Solar Panel Costs in Englewood
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why 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.The brand of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Englewood offer solar loans, which reduce the initial cost of installing solar panels.It’s a good idea to add 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 back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Englewood is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 company you go with will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide high-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Englewood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Englewood?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally 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 needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Englewood?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The drawback 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 maximize your savings.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Englewood is currently $545,494, so you could be looking at a value of about $22,365 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Englewood is a fruitful investment.
How often do you have to replace solar panels?
Even though 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 decide to replace them once you've had them for that long or you can continue to use 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.