Solar Panel Cost Guide in Avenel, NJ (2024 Update)
- Avenel Solar Installation Cost: $11,564
- 25-Year Savings: $23,995
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Avenel
We go over average solar pricing in Avenel.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Avenel, the typical cost of a solar system is 4 per watt.Since a 4.7-kW system is needed to cover the energy needs of a typical home in Avenel, the average price of going solar will be about $11,564 after claiming the federal solar tax credit of 0.
These figures are only averages, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Avenel homeowners see about $14,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a personalized quote.
Solar savings over time in Avenel
| Year | Return on Investment |
|---|---|
| 1 years | $-10,142 |
| 3 years | $-7,297 |
| 5 years | $-4,452 |
| 7 years | $-1,608 |
| 9 years | $1,237 |
| 11 years | $4,082 |
| 13 years | $6,927 |
| 15 years | $9,771 |
| 17 years | $12,616 |
| 19 years | $15,461 |
| 21 years | $18,306 |
| 23 years | $21,150 |
| 25 years | $23,995 |
Top Solar Installers in Avenel
Although you can install solar panels yourself, it requires extra effort and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. Another great thing about going with a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.
If you’d like to start using solar energy but still aren’t sure which solar panel installer to go with, here are our suggestions for providers nearby:
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
See all of the solar companies in Avenel
Factors that Affect Solar Panel Costs in Avenel
There are a number of criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Avenel, 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 figure out by looking at past energy bills. Your overall cost can increase by about $3,530 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 Avenel, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they decrease your upfront costs and let you pay for your system over five to seven years on average.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $7,466 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,350 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,432 | 16.2 years |
| 12 kW | $3.46 | $29,059 | $16,711 | 15.9 years |
| 14 kW | $3.39 | $33,210 | $20,188 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $23,863 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $27,736 | 14.9 years |
| 20 kW | $3.18 | $44,478 | $31,806 | 14.6 years |
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 decide on the right company for you, here are some tips to keep in mind:
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
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
EcoWatch's Avenel, NJ Solar Cost FAQs
How much does it cost to install solar panels in Avenel?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Avenel?
You can’t get solar panels for free in Avenel. 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 rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase your property’s value 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% with a solar installation."
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 amount of 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 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.