Solar Panel Cost Guide in Carneys Point, NJ (2023 Update)
- Carneys Point Solar Installation Cost: $8,954
- 25-Year Savings: $13,806
- Payback Period: 9.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Carneys Point
Find out what the average cost of solar panel installation is in Carneys Point.
The average cost of a solar system in Carneys Point is 2.77 per watt. The average Carneys Point homeowner needs a 4.6-kilowatt system, which would cost about $8,958 with the federal tax credit, or $12,810 before the 30% tax credit is applied.
The true cost of your system can be above or below the average in Carneys Point depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in Carneys Point for a customized quote.
Solar savings over time in Carneys Point
| Year | Return on Investment |
|---|---|
| 1 years | $-8,878 |
| 3 years | $-8,727 |
| 5 years | $-8,575 |
| 7 years | $-8,423 |
| 9 years | $-8,272 |
| 11 years | $-8,120 |
| 13 years | $-7,968 |
| 15 years | $-7,816 |
| 17 years | $-7,665 |
| 19 years | $-7,513 |
| 21 years | $-7,361 |
| 23 years | $-7,209 |
| 25 years | $-7,058 |
Top Solar Installers in Carneys Point
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Hiring a solar panel installer can make converting to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.
If you're looking for a solar company in Carneys Point, the EcoWatch team has put together a list of our top suggestions here:
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 Carneys Point
Factors that Affect Solar Panel Costs in Carneys Point
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Carneys Point: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Carneys Point, 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 consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $2,770 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment consists of 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 falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Carneys Point to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest. Although solar loans make switching to solar energy more accessible for Carneys Point homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Carneys Point, and each can charge varying amounts for labor and equipment. Larger national companies usually have lower costs, but some local companies keep up with 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 | $2.88 | $12,099 | $17,473 | 10.2 years |
| 8 kW | $2.83 | $15,822 | $23,607 | 10.0 years |
| 10 kW | $2.77 | $19,390 | $29,896 | 9.8 years |
| 12 kW | $2.71 | $22,803 | $36,341 | 9.6 years |
| 14 kW | $2.66 | $26,060 | $42,941 | 9.4 years |
| 16 kW | $2.60 | $29,163 | $49,696 | 9.2 years |
| 18 kW | $2.55 | $32,110 | $56,606 | 9.0 years |
| 20 kW | $2.49 | $34,902 | $63,671 | 8.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, 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:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Solar Panel Brands: Different companies carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes 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 Carneys Point, NJ Solar Cost FAQs
How much does it cost to install solar panels in Carneys Point?
The average cost of solar panels in Carneys Point 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 model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Carneys Point?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
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 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 buy 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.