Solar Panel Cost Guide in Atlantic City, NJ (2023 Update)
- Atlantic City Solar Installation Cost: $8,687
- 25-Year Savings: $14,074
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Atlantic City
Here's how much it might cost to go solar in Atlantic City.
In Atlantic City, solar panels cost about 2.77 per watt on average. The average solar panel system size in Atlantic City is around 4.5 kilowatts, meaning a cost of about $8,687 for a solar installation, or $12,422 before the 30% federal solar tax credit is applied.
The true price you pay can be above or below the average in Atlantic City based on a variety of factors, such as the model of solar panels you choose and the solar company you hire. Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Atlantic City can save around $19,000 on their energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Atlantic City
| Year | Return on Investment |
|---|---|
| 1 years | $-7,776 |
| 3 years | $-5,955 |
| 5 years | $-4,135 |
| 7 years | $-2,314 |
| 9 years | $-493 |
| 11 years | $1,328 |
| 13 years | $3,149 |
| 15 years | $4,970 |
| 17 years | $6,791 |
| 19 years | $8,611 |
| 21 years | $10,432 |
| 23 years | $12,253 |
| 25 years | $14,074 |
Top Solar Installers in Atlantic City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar company can make switching to solar power much easier. A solar installer can also help save you money over time by providing warranties, repairs and component replacements.
There are several licensed solar professionals that can take care of your solar installation project. 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
See all of the solar companies in Atlantic City
Factors that Affect Solar Panel Costs in Atlantic City
Though the average cost of a solar system in Atlantic City is $8,687, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Atlantic City, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Atlantic City, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Atlantic City to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Atlantic City, you'll have many options to choose from, but each comes at varying price points for labor and equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $18,399 | 9.9 years |
| 8 kW | $2.83 | $15,822 | $24,842 | 9.7 years |
| 10 kW | $2.77 | $19,390 | $31,441 | 9.5 years |
| 12 kW | $2.71 | $22,803 | $38,194 | 9.3 years |
| 14 kW | $2.66 | $26,060 | $45,103 | 9.2 years |
| 16 kW | $2.60 | $29,163 | $52,166 | 9.0 years |
| 18 kW | $2.55 | $32,110 | $59,385 | 8.8 years |
| 20 kW | $2.49 | $34,902 | $66,759 | 8.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the completion timeline.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
- Solar Panel Brands: Different companies will offer different brands and types of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
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 Atlantic City, NJ Solar Cost FAQs
How much does it cost to install solar panels in Atlantic City?
The average cost of solar panels in Atlantic City is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Atlantic City?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Atlantic City, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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.