Best 5 Solar Companies in Newark, NJ

How To Choose the Best Solar Company in Newark

The purchase price and performance of solar panels often hinge on the provider that installed them. Consider all of these criteria in your company search.

Licensing and Training

Licensing requirements mean that your New Jersey solar installation team will likely have a variety of different professionals, including an electrician for wiring work and a master plumber for piping work. The most senior professionals on the team will also liaise with your local government and utility on permit matters. Solar companies can also obtain certificates from standards organizations and trade groups. The most prestigious ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.

Cost of Solar Panels in Newark

Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.

You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can enhance your solar system's performance. Not every solar contractor includes these extras, so look for a provider that installs them if it's important for you.

If you're a resident of Newark and are looking into a five-kilowatt solar energy system, you could expect to pay about $17,650 for parts and installation. Find more information on specific component and solar panel costs in the table.

Financing Solar Energy in Newark

Solar contractors use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, power purchase agreements (PPAs), solar leases and solar loans. Though it involves a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, similar to an electric bill. We generally don’t recommend these two options because you won't own the system and cannot use solar incentives. We recommend working with a company that offers multiple financing options. Ask each consultant about what's available, and acquire more than one estimate for the best odds of staying within your financial plan.

The table below lists the average payback periods for different capacities of solar systems in Newark.

You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.