Solar Panel Cost Guide in Blackwood, NJ (Feb 2023)
- Blackwood Solar Installation Cost: $9,036
- 25-Year Savings: $11,270
- Payback Period: 11.1 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Blackwood
Find out what the average cost of installing solar panels is in Blackwood.
In Blackwood, solar panels cost about $3 per watt on average. Using this figure, a typical 4.7 would cost about $9,036 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Blackwood based on a few factors, such as the type of solar panels you choose and the solar contractor you hire. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Blackwood can save about $17,000 on their power bills over 20 years.
To get a free quote from a highly rated solar company in Blackwood, you can click the button below.
Solar savings over time in Blackwood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,224 |
| 3 years | $-6,599 |
| 5 years | $-4,975 |
| 7 years | $-3,350 |
| 9 years | $-1,726 |
| 11 years | $-101 |
| 13 years | $1,523 |
| 15 years | $3,148 |
| 17 years | $4,772 |
| 19 years | $6,396 |
| 21 years | $8,021 |
| 23 years | $9,645 |
| 25 years | $11,270 |
Top Solar Installers in Blackwood
When making the switch to solar, many homeowners prefer to use a solar company since putting up a solar system yourself can be a time-consuming project. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for you.
There are a number of 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 Technology
Tesla Energy
- 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 Blackwood
Factors that Affect Solar Panel Costs in Blackwood
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,770. There are several different solar panel brands and the one you pick also changes the cost. In many cases, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Blackwood, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Blackwood, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. 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 specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.88 | $12,099 | $14,055 | 11.6 years |
| 8 kW | $2.83 | $15,822 | $19,050 | 11.3 years |
| 10 kW | $2.77 | $19,390 | $24,200 | 11.1 years |
| 12 kW | $2.71 | $22,803 | $29,505 | 10.9 years |
| 14 kW | $2.66 | $26,060 | $34,966 | 10.7 years |
| 16 kW | $2.60 | $29,163 | $40,581 | 10.5 years |
| 18 kW | $2.55 | $32,110 | $46,352 | 10.2 years |
| 20 kW | $2.49 | $34,902 | $52,278 | 10.0 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. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best Technology
Tesla Energy
- 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 Blackwood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Blackwood?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Blackwood?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is going solar worth it?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install 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.