Solar Panel Cost Guide in Carneys Point, NJ (Mar 2023)
- Carneys Point Solar Installation Cost: $8,958
- 25-Year Savings: $13,803
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Carneys Point
Let's have a look at the average cost of solar panels in Carneys Point.
In Carneys Point, solar panels cost about 2.77 per watt on average. To account for the typical energy usage of the average home in Carneys Point, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs about $8,958, or $12,810 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary based on multiple factors, such as how many panels you need, your energy usage and what company you go with. 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.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Carneys Point
| Year | Return on Investment |
|---|---|
| 1 years | $-8,048 |
| 3 years | $-6,227 |
| 5 years | $-4,406 |
| 7 years | $-2,585 |
| 9 years | $-764 |
| 11 years | $1,057 |
| 13 years | $2,877 |
| 15 years | $4,698 |
| 17 years | $6,519 |
| 19 years | $8,340 |
| 21 years | $10,161 |
| 23 years | $11,982 |
| 25 years | $13,803 |
Top Solar Installers in Carneys Point
Although you can install solar panels on your own, it requires extra labor and expertise. That's one of the reasons almost all homeowners choose a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our suggestions for providers in Carneys Point:
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 Carneys Point
Factors that Affect Solar Panel Costs in Carneys Point
Cost is usually one of the most important factors for homeowners who are considering investing 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 go over each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Carneys Point, one of the most crucial 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 gauge by looking at past electricity bills. Your total cost can increase by around $2,770 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Carneys Point, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Carneys Point, and each can charge different amounts for labor and equipment. Additionally, some companies in Carneys Point have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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
There are a lot of companies available in Carneys Point, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should opt for, since different companies have different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide high-quality solar panel installation and expertise.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: When making the switch to solar, it's necessary to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project timeline.
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 Carneys Point, NJ Solar Cost FAQs
What is the average cost of installing 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 real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is a very important 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 consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Carneys Point?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs 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 get between 20 and 35 panels to cover 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.