Solar Panel Cost Guide in Asbury Park, NJ (Sep 2022)

  • Asbury Park Solar Installation Cost: $8,764
  • 25-Year Savings: $7,419
  • Payback Period: 13.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Asbury Park

Find out how much it might cost to switch to solar power in Asbury Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Asbury Park, the typical cost of solar panels is $3 per watt. The average solar panel system size in Asbury Park is around 4.5 kilowatts, meaning a cost of about $8,764 for a solar installation, or $6,485 after the 30% federal solar tax credit is applied.

Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you choose, your solar contractor and more. Even with the significant upfront cost, the average Asbury Park homeowner can save about $14,000 on their power bills over 20 years, which is one of the perks of solar.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Asbury Park

Year Return on Investment
1 years $-8,117
3 years $-6,822
5 years $-5,528
7 years $-4,233
9 years $-2,938
11 years $-1,643
13 years $-349
15 years $946
17 years $2,241
19 years $3,535
21 years $4,830
23 years $6,125
25 years $7,419

Top Solar Installers in Asbury Park

Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be time-consuming. The expertise that solar installers offer can be valuable as well, especially if you aren't sure what brand of solar equipment would be right for your home.

Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Asbury Park

Factors that Affect Solar Panel Costs in Asbury Park

Though the average cost of solar panels in Asbury Park is $8,764, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.

Solar Equipment Size

System size is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a 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 greater 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

Many homeowners find the average cost of solar in Asbury Park to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in paying more over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can lower the total interest paid over time.

Solar Panel Installation Company

Finally, the company you get to install your solar system can affect how much you pay. Asbury Park's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you're looking for and also fits within your budget.

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 $9,382 14.1 years
8 kW $2.83 $15,822 $12,819 13.8 years
10 kW $2.77 $19,390 $16,412 13.5 years
12 kW $2.71 $22,803 $20,160 13.3 years
14 kW $2.66 $26,060 $24,062 13.0 years
16 kW $2.60 $29,163 $28,120 12.7 years
18 kW $2.55 $32,110 $32,333 12.5 years
20 kW $2.49 $34,902 $36,702 12.2 years

Solar Incentives in Asbury Park

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline rebates and warranties.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
  • Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Asbury Park, NJ Solar Cost FAQs

How much does it cost to install solar panels in Asbury Park?

This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Asbury Park?

You can't get solar panels for free in Asbury Park. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.

How much can I save on power bills after installing solar panels?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Asbury Park, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 cover 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.

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