Solar Panel Cost Guide in South Bound Brook, NJ (2024 Update)
- South Bound Brook Solar Installation Cost: $11,701
- 25-Year Savings: $8,668
- Payback Period: 16.4 Years
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Average Cost of Solar Panels in South Bound Brook
Find out what the average cost of installing solar panels is in South Bound Brook.
The national average cost of solar panels is $2.66 per watt, but in South Bound Brook it’s 4 per watt.The average solar panel system size in South Bound Brook is around 4.7 kilowatts, meaning a cost of about $11,701 for a solar installation, or $16,732 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary depending on a few factors, such as what size system you need, your energy usage and what installation company you go with.Even with the significant initial cost, the average South Bound Brook homeowner can save around $14,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in South Bound Brook
| Year | Return on Investment |
|---|---|
| 1 years | $-10,279 |
| 3 years | $-7,434 |
| 5 years | $-4,589 |
| 7 years | $-1,745 |
| 9 years | $1,100 |
| 11 years | $3,945 |
| 13 years | $6,790 |
| 15 years | $9,634 |
| 17 years | $12,479 |
| 19 years | $15,324 |
| 21 years | $18,168 |
| 23 years | $21,013 |
| 25 years | $23,858 |
Top Solar Installers in South Bound Brook
When going solar, many homeowners opt to go with a solar company since DIY solar panel installation can be a difficult project. The expertise that solar companies provide can be useful as well, particularly if you aren’t sure what kind of solar equipment would be right for your home.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations 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 South Bound Brook
Factors that Affect Solar Panel Costs in South Bound Brook
There are several criteria that can affect 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 panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,530.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in South Bound Brook to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time 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 South Bound Brook is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in South Bound Brook 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 | $7,198 | 17.0 years |
| 8 kW | $3.60 | $20,163 | $9,993 | 16.7 years |
| 10 kW | $3.53 | $24,710 | $12,985 | 16.4 years |
| 12 kW | $3.46 | $29,059 | $16,175 | 16.1 years |
| 14 kW | $3.39 | $33,210 | $19,563 | 15.7 years |
| 16 kW | $3.32 | $37,164 | $23,149 | 15.4 years |
| 18 kW | $3.25 | $40,920 | $26,932 | 15.1 years |
| 20 kW | $3.18 | $44,478 | $30,913 | 14.7 years |
How to Save on Solar Panels
There are numerous companies available in South Bound Brook, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
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 South Bound Brook, NJ Solar Cost FAQs
What is the average cost of installing solar panels in South Bound Brook?
The average cost of solar panels in South Bound Brook 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 like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in South Bound Brook?
You can’t get solar panels for free in South Bound Brook. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $753.91 per year.
How long do solar panels last in South Bound Brook?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having 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.