Solar Panel Cost Guide in Bordentown, NJ (2023 Update)
- Bordentown Solar Installation Cost: $8,939
- 25-Year Savings: $8,495
- Payback Period: 12.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bordentown
Let's have a look at the average cost of solar panels in Bordentown.
Although the national average of solar panels is $2.66 per watt, solar panels in Bordentown typically cost around 2.77. To cover the typical energy usage of the average home in Bordentown, most homeowners require a 4.6-kilowatt system. Using the per-watt figure above, a solar installation costs about $8,939, or $12,783 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Bordentown can save around $14,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Bordentown for a quote for your home.
Solar savings over time in Bordentown
| Year | Return on Investment |
|---|---|
| 1 years | $-8,241 |
| 3 years | $-6,847 |
| 5 years | $-5,452 |
| 7 years | $-4,057 |
| 9 years | $-2,663 |
| 11 years | $-1,268 |
| 13 years | $127 |
| 15 years | $1,521 |
| 17 years | $2,916 |
| 19 years | $4,311 |
| 21 years | $5,706 |
| 23 years | $7,100 |
| 25 years | $8,495 |
Top Solar Installers in Bordentown
Many homeowners decide to use a solar panel company since trying to install solar panels by yourself can be challenging. The expertise that solar companies provide can be invaluable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Bordentown:
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 Bordentown
Factors that Affect Solar Panel Costs in Bordentown
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Bordentown: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, 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 around $2,770. There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. Although solar loans make adopting solar energy more accessible for Bordentown homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Bordentown, you'll have many options to choose from, but each comes at varying price points for labor and 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 go with the company that provides the products, warranties and services you're looking for and also fit into 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 | $10,595 | 13.3 years |
| 8 kW | $2.83 | $15,822 | $14,437 | 13.1 years |
| 10 kW | $2.77 | $19,390 | $18,433 | 12.8 years |
| 12 kW | $2.71 | $22,803 | $22,586 | 12.6 years |
| 14 kW | $2.66 | $26,060 | $26,893 | 12.3 years |
| 16 kW | $2.60 | $29,163 | $31,355 | 12.0 years |
| 18 kW | $2.55 | $32,110 | $35,972 | 11.8 years |
| 20 kW | $2.49 | $34,902 | $40,745 | 11.5 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: The brand of solar panel you'd like to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
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 Bordentown, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Bordentown?
This is a tough 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 other solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Bordentown?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 financial benefits from going solar.
How will solar panels impact the value of my home?
Solar panels can increase the value of your home 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 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 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.