Solar Panel Cost Guide in West New York, NJ (2024 Update)
- West New York 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 West New York
Let’s have a look at the average cost of solar in West New York.
While the national average of solar panels is $2.66 per watt, solar panels in West New York typically cost around 4.Using this figure, a typical 4.6-kW system would cost about $11,370 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what company you go with.With average savings of about $15,000 on utility bills over 20 years, many homeowners in West New York find going solar can be quite rewarding.
To receive a free estimate from a top solar installer in West New York, you can click the button below.
Solar savings over time in West New York
| 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 West New York
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make converting to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be right for your home.
If you’d like to switch to solar energy but still aren’t certain which solar 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 West New York
Factors that Affect Solar Panel Costs in West New York
The cost of installing a solar system in West New York can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $3,530 per kilowatt in West New York.The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many West New York homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in West New York, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in West New York know more about local solar incentives and can help you learn about 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 | $7,856 | 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 numerous companies to choose from in West New York, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
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 West New York, NJ Solar Cost FAQs
What is the average cost of installing solar panels in West New York?
The average cost of solar panels in West New York is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $775.85 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires 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 household 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.