How long will it take for your solar installation to pay for itself?

As we experience the effects of climate change, like severe weather conditions in the Northeastern US, and as we understand more about how we can reduce our individual environmental footprints, many homeowners are interested in home solar systems. A common question we hear from people is: how long will it take my solar system to pay for itself? In this article our team discusses solar installation costs and what you can expect if you opt for a home solar system. 

The largest costs are upfront

Paying for the installation is by far the biggest cost you will incur. You’ll need to consult with a trusted solar company to understand how many solar panels you need, as each home differs according to roof type, size, and energy needs, but you can expect to spend anywhere between $11,000 and $15,000 upfront for materials and installation.

Will my entire home run on solar power alone?

This depends on several factors including the climate you live in, which direction your roof faces, how many people live in your house, and how much energy you use on a daily basis. A single person living in a one-bedroom house will use less energy than a family of six. 

How long will it take solar panels to pay for themselves?

The average time it takes to save between $11,000 and $15,000 on your monthly energy bills is between 10 to 20 years. Solar panels are a long-term investment and they also add value to your home, so whether you’re planning on remaining in your home for decades to come, or you aren’t sure where you’ll be in 10 years, going solar is worth it. 

Learn more about solar installation in NJ

If you’re concerned that the upfront costs of solar installation will be a barrier to you having a home solar system, there are financing options available including solar leases, payment plans, and more. Many solar companies will be happy to work with your budget and find a solution, so please contact your local solar company to learn what’s possible. 

If you’d like to know more about solar installation costs in Morris County NJ, or if you have any questions, please contact our team at Greenhouse Solar today. We look forward to hearing from you.