Solar Panel Cost Guide in Asbury Park, NJ (2024 Update)
- Asbury Park Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Asbury Park
Find out how much it might cost to go solar in Asbury Park.
Although the national average of solar panels is $2.66 per watt, solar panels in Asbury Park generally cost about 4.The average Asbury Park homeowner needs a 4.5-kilowatt system, which would cost about $11,170 with the federal tax credit, or $15,973 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Asbury Park homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $14,000 on utility bills over 20 years, many homeowners in Asbury Park find installing solar panels can be quite rewarding.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Asbury Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Asbury Park
Although it's possible to install solar panels on your own, it takes extra labor and knowledge. That's why most people choose a solar panel installer. Plus, if you’re unsure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
See all of the solar companies in Asbury Park
Factors that Affect Solar Panel Costs in Asbury Park
Even though the average cost of a solar system in Asbury Park is $11,170, your actual cost may differ. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar energy system in Asbury Park, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Asbury Park homeowners opt to finance their solar panel systems to make paying for solar more affordable.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Asbury Park is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Asbury Park know more about local solar incentives and can help you take advantage of 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 | $3.67 | $15,419 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: If you care about the endurance of your solar panels, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: The kind of solar panel you need plays a part in which company you should opt for, since different companies have access to different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Solar Veteran
Trinity Solar
- Many financing options
- Family-owned and -operated
- Makes charitable contributions
- Limited service area
- Relatively short workmanship warranty
EcoWatch's Asbury Park, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Asbury Park?
The average cost of solar panels in Asbury Park is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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 buy 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.