Solar Panel Cost Guide in Cape May Court House, NJ (2023 Update)
- Cape May Court House Solar Installation Cost: $8,207
- 25-Year Savings: $14,554
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cape May Court House
See how much it might cost to go solar in Cape May Court House.
In Cape May Court House, solar panels cost about 2.77 per watt on average. The average solar panel system size in Cape May Court House is around 4.2 kilowatts, meaning a cost of about $8,202 for a solar installation, or $11,729 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Cape May Court House can save around $20,000 on their energy bills over 20 years.
To receive a free quote from a top solar company in Cape May Court House, you can click the button below.
Solar savings over time in Cape May Court House
| Year | Return on Investment |
|---|---|
| 1 years | $-8,131 |
| 3 years | $-7,979 |
| 5 years | $-7,827 |
| 7 years | $-7,676 |
| 9 years | $-7,524 |
| 11 years | $-7,372 |
| 13 years | $-7,220 |
| 15 years | $-7,069 |
| 17 years | $-6,917 |
| 19 years | $-6,765 |
| 21 years | $-6,613 |
| 23 years | $-6,462 |
| 25 years | $-6,310 |
Top Solar Installers in Cape May Court House
Although it's possible to install solar panels yourself, it takes extra energy and handiness. For that reason, most homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to start using solar energy but still aren't sure which solar system installer to go with, here are our recommendations 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
See all of the solar companies in Cape May Court House
Factors that Affect Solar Panel Costs in Cape May Court House
The cost of installing a solar system in Cape May Court House can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Cape May Court House, 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 usage, which you can determine by looking at past energy bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. In general, the brands that have better efficiency tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Cape May Court House to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. While solar loans make switching to solar energy more accessible for Cape May Court House homeowners, they can also raise 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
A final consideration when trying to estimate the cost of solar for your home or business in Cape May Court House is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk 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 | $20,167 | 9.4 years |
| 8 kW | $2.83 | $15,822 | $27,200 | 9.2 years |
| 10 kW | $2.77 | $19,390 | $34,387 | 9.0 years |
| 12 kW | $2.71 | $22,803 | $41,730 | 8.8 years |
| 14 kW | $2.66 | $26,060 | $49,228 | 8.7 years |
| 16 kW | $2.60 | $29,163 | $56,881 | 8.5 years |
| 18 kW | $2.55 | $32,110 | $64,689 | 8.3 years |
| 20 kW | $2.49 | $34,902 | $72,652 | 8.1 years |
How to Save on Solar Panels
There are numerous companies to choose from in Cape May Court House, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
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 Cape May Court House, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Cape May Court House?
The average cost of solar panels in Cape May Court House is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cape May Court House?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,075.54 per year.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.