Is $35,000 to install a 26-panel solar system a fair price?
Project Details
I'm confused about moving forward with solar due to hearing horror stories about contracts and potentially paying more than before. I'm experiencing analysis paralysis and need advice on whether to proceed. I'm also unsure about installation timelines, as some companies promise 60 days while others don't. My average electric bill is about $350/month, consuming roughly 13,500 kWh per year. I have a FICO score over 800, 60% home equity, and a debt-to-income ratio of around 15%. I'm trying to confirm the Federal Tax Credit calculation, expecting $10,500 back on a $35,000 system.
Quote Details
This quote is for the installation of a 26-panel solar system. The financial breakdown includes: - System Type: Solar panel installation - Number of Panels: 26 - Initial System Cost: $35,000 - Estimated Federal Tax Credit: $10,000 (reducing the financed amount to $25,000) - Financing Terms (if applicable): 10% interest over 10 years, resulting in approximately $15,000 in interest - New Jersey SREC-II Credits: Approximately $1,000 per year for 15 years, totaling $15,000 - Estimated True Net Cost (after NJ credits): Approximately $10,000 over the life of the system
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More Details
Category
Solar
Price
$35,000
Quote Date
October 2, 2025
Location
New Jersey
# of Panels
26
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