Solar Panel Cost Guide in Allamuchy, NJ (2023 Update)
- Allamuchy Solar Installation Cost: $9,307
- 25-Year Savings: $6,877
- Payback Period: 14.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Allamuchy
We break down average solar pricing in Allamuchy.
Although the national average of solar panels is $2.66 per watt, solar panels in Allamuchy generally cost around 2.77. The average solar panel system size in Allamuchy is around 4.8 kilowatts, meaning a cost of about $9,307 for a solar installation, or $13,309 before the 30% 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 true cost of installing solar panels can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what solar installer you go with. But, after you've paid the initial cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $13,000 over 20 years on electricity bills.
To receive a free estimate from a pre-vetted solar installer in Allamuchy, you can click the button below.
Solar savings over time in Allamuchy
| Year | Return on Investment |
|---|---|
| 1 years | $-8,660 |
| 3 years | $-7,365 |
| 5 years | $-6,070 |
| 7 years | $-4,776 |
| 9 years | $-3,481 |
| 11 years | $-2,186 |
| 13 years | $-892 |
| 15 years | $403 |
| 17 years | $1,698 |
| 19 years | $2,992 |
| 21 years | $4,287 |
| 23 years | $5,582 |
| 25 years | $6,877 |
Top Solar Installers in Allamuchy
Putting up solar panels by yourself can be a stressful undertaking, which is why hiring a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you're searching for a solar installer in Allamuchy, the EcoWatch team has organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Allamuchy
Factors that Affect Solar Panel Costs in Allamuchy
For many Allamuchy homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Allamuchy, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Allamuchy, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Allamuchy provide solar loans, which reduce the initial cost of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies in Allamuchy, and each can charge different amounts for labor and equipment. Additionally, some companies in Allamuchy are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $2.88 | $12,099 | $8,140 | 14.9 years |
| 8 kW | $2.83 | $15,822 | $11,163 | 14.7 years |
| 10 kW | $2.77 | $19,390 | $14,342 | 14.4 years |
| 12 kW | $2.71 | $22,803 | $17,675 | 14.1 years |
| 14 kW | $2.66 | $26,060 | $21,164 | 13.8 years |
| 16 kW | $2.60 | $29,163 | $24,808 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,607 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,561 | 12.9 years |
How to Save on Solar Panels
The solar panel company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies have various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Allamuchy, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Allamuchy?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Allamuchy?
Solar panels aren't free in Allamuchy, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.