Solar Panel Cost Guide in North Bergen, NJ (2024 Update)
- North Bergen Solar Installation Cost: $11,370
- 25-Year Savings: $8,928
- Payback Period: 15.9 Years
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Average Cost of Solar Panels in North Bergen
Let’s have a look at the average cost of solar panels in North Bergen.
Currently, the national average cost of solar panels is $2.66 per watt. However, in North Bergen, the typical cost of a solar system is 4 per watt.Since a 4.6-kW system is needed to cover the energy consumption of a typical home in North Bergen, the average price of going solar will be about $11,370 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in North Bergen that can help you get a more accurate cost estimate for your home.
Solar savings over time in North Bergen
| Year | Return on Investment |
|---|---|
| 1 years | $-9,948 |
| 3 years | $-7,103 |
| 5 years | $-4,258 |
| 7 years | $-1,414 |
| 9 years | $1,431 |
| 11 years | $4,276 |
| 13 years | $7,120 |
| 15 years | $9,965 |
| 17 years | $12,810 |
| 19 years | $15,655 |
| 21 years | $18,499 |
| 23 years | $21,344 |
| 25 years | $24,189 |
Top Solar Installers in North Bergen
When going solar, many homeowners choose to go with a solar installer since DIY solar panel installation can be a time-consuming project. Solar companies provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
If you're looking for a solar installer in North Bergen, we've organized a list of our top suggestions here:
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 North Bergen
Factors that Affect Solar Panel Costs in North Bergen
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in North Bergen: 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
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,530. The brand of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can play a part in determining your pricing. North Bergen’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in North Bergen are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $7,856 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,871 | 16.2 years |
| 10 kW | $3.53 | $24,710 | $14,082 | 15.9 years |
| 12 kW | $3.46 | $29,059 | $17,492 | 15.6 years |
| 14 kW | $3.39 | $33,210 | $21,099 | 15.3 years |
| 16 kW | $3.32 | $37,164 | $24,904 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,906 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $33,107 | 14.3 years |
How to Save on Solar Panels
There are many companies available in North Bergen, 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:
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 North Bergen, NJ Solar Cost FAQs
How much does it cost to install solar panels in North Bergen?
This is a tough question to answer exactly, 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in North Bergen?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.