Solar Panel Cost Guide in Teaneck, NJ (2024 Update)
- Teaneck 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 Teaneck
We go over average solar pricing in Teaneck.
While the national average of solar panels is $2.66 per watt, solar panels in Teaneck generally cost around 4.The average Teaneck homeowner needs a 4.7-kilowatt system, which would cost about $11,529 with the federal tax credit, or $16,486 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Teaneck find investing in solar can be quite rewarding.
Click the button below to get connected to a top solar panel company in your area for a custom quote.
Solar savings over time in Teaneck
| 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 Teaneck
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
If you're searching for a solar installer in Teaneck, we've compiled 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 Teaneck
Factors that Affect Solar Panel Costs in Teaneck
For many Teaneck homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Teaneck, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,530. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Teaneck, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of 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 APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies in Teaneck, and each can charge different amounts for labor and equipment.The company’s size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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
There are a lot of companies to choose from in Teaneck, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- 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 panels are installed, such as repairing your electrical system or roof.
- Contract: Read the contract terms thoroughly to make sure you understand how much it will cost, completion timeline incentives and warranties.
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 Teaneck, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Teaneck?
The average cost of solar panels in Teaneck 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.
Can you get solar panels for free in Teaneck?
Solar panels aren’t free in Teaneck, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.