Is $50,000 to install a solar panel system a fair price?
Project Details
I live in New Jersey, which has some of the highest utility bills. My husband received this proposal and is trying to rush into it before the tax credit is taken away. I'm concerned about the deal, especially the financing structure tied to the tax credit and SREC value, and I'm seeking feedback.
Quote Details
This quote is for the installation of a solar panel system. The net system cost is $50,000. The monthly payment structure is dependent on the application of the federal tax credit. - Net System Cost: $50,000 - Monthly Payment (with tax credit applied): $263/month for 300 months - Monthly Payment (without tax credit applied): $373/month - Estimated Federal Tax Credit Value: Approximately $15,000 - Estimated SREC Value: $15,000
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More Details
Category
Solar
Price
$50,000
Quote Date
August 11, 2025
Location
New Jersey
Home Size
1,600 sq ft
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