Solar Panel Cost Guide in Blackwood, NJ (2023 Update)
- Blackwood Solar Installation Cost: $9,032
- 25-Year Savings: $11,273
- Payback Period: 11.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Blackwood
Let's take a look at the average cost of solar panels in Blackwood.
While the national average of solar panels is $2.66 per watt, solar panels in Blackwood generally cost about 2.77. To account for the typical energy needs of the average home in Blackwood, most homeowners require a 4.7-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,036, or $12,921 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Blackwood can save around $17,000 on their electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Blackwood
| Year | Return on Investment |
|---|---|
| 1 years | $-8,965 |
| 3 years | $-8,829 |
| 5 years | $-8,694 |
| 7 years | $-8,559 |
| 9 years | $-8,423 |
| 11 years | $-8,288 |
| 13 years | $-8,152 |
| 15 years | $-8,017 |
| 17 years | $-7,882 |
| 19 years | $-7,746 |
| 21 years | $-7,611 |
| 23 years | $-7,476 |
| 25 years | $-7,340 |
Top Solar Installers in Blackwood
Although you can install solar panels by yourself, it takes extra energy and knowledge. That's one of the reasons most homeowners choose to go with a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your home.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Blackwood
Factors that Affect Solar Panel Costs in Blackwood
There are a number of criteria that can determine your total 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
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. The brand of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Blackwood to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you choose will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $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 available to you, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which kind 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 take a look at their list of options before making your decision.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Blackwood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Blackwood?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $871.80 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.