Solar Panel Cost Guide in Hazlet, NJ (2024 Update)
- Hazlet Solar Installation Cost: $11,170
- 25-Year Savings: $15,310
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Hazlet
Find out what the average cost of installing solar panels is in Hazlet.
In Hazlet, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Hazlet, most homeowners require a 4.5-kilowatt system. Using the figure above, a solar installation costs about $11,170, or $15,973 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Hazlet can save about $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Hazlet that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hazlet
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Hazlet
Many homeowners opt for a solar installation company since installing solar panels yourself can be time-consuming. Plus, if you’re unsure what brand of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you’d like to switch to solar energy but still aren’t certain which solar system installer to go with, here are our suggestions for providers nearby:
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 Hazlet
Factors that Affect Solar Panel Costs in Hazlet
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that affect your total cost in Hazlet: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Hazlet, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect your pricing. Hazlet’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, 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 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
The solar installer you opt for will impact 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 some important things you should take into account, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Hazlet, NJ Solar Cost FAQs
How much does it cost to install solar panels in Hazlet?
The average cost of solar panels in Hazlet 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 such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Hazlet?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.