Solar Panel Cost Guide in South Orange Village, NJ (2024 Update)
- South Orange Village Solar Installation Cost: $11,692
- 25-Year Savings: $7,842
- Payback Period: 17.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in South Orange Village
We go over average solar pricing in South Orange Village.
In South Orange Village, solar panels cost about 4 per watt on average.The average solar panel system size in South Orange Village is around 4.7 kilowatts, meaning a cost of about $11,692 for a solar installation, or $16,720 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what company you go with.For most homeowners, the upfront investment in solar panels is worth paying. On average South Orange Village homeowners see about $14,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar company in South Orange Village that can help you get a more accurate cost estimate for your home.
Solar savings over time in South Orange Village
| Year | Return on Investment |
|---|---|
| 1 years | $-10,633 |
| 3 years | $-8,514 |
| 5 years | $-6,396 |
| 7 years | $-4,278 |
| 9 years | $-2,159 |
| 11 years | $-41 |
| 13 years | $2,078 |
| 15 years | $4,196 |
| 17 years | $6,314 |
| 19 years | $8,433 |
| 21 years | $10,551 |
| 23 years | $12,670 |
| 25 years | $14,788 |
Top Solar Installers in South Orange Village
When making the switch to solar, many homeowners prefer to go with a solar company since installing solar panels yourself can be a time-consuming project. Local solar installers can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
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 Orange Village
Factors that Affect Solar Panel Costs in South Orange Village
There are many factors that can determine your 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
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $3,530 per kilowatt in South Orange Village.The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond 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’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many South Orange Village homeowners opt to finance their solar panel systems to make going solar more affordable.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in South Orange Village, you’ll have lots of options to choose from, but each comes at different price points for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $6,159 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,608 | 17.5 years |
| 10 kW | $3.53 | $24,710 | $11,254 | 17.2 years |
| 12 kW | $3.46 | $29,059 | $14,098 | 16.8 years |
| 14 kW | $3.39 | $33,210 | $17,139 | 16.5 years |
| 16 kW | $3.32 | $37,164 | $20,378 | 16.1 years |
| 18 kW | $3.25 | $40,920 | $23,815 | 15.8 years |
| 20 kW | $3.18 | $44,478 | $27,450 | 15.5 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: Make sure you’re aligned with the installer with regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
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 Orange Village, NJ Solar Cost FAQs
How much does it cost to install solar panels in South Orange Village?
The average cost of solar panels in South Orange Village 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in South Orange Village?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 financial benefits from going solar.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in South Orange Village is currently $635,223, so you can expect a value of about $26,044 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in South Orange Village is a rewarding investment.
How long do solar panels last in South Orange Village?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production 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.