Solar Panel Cost Guide in Carneys Point, NJ (2024 Update)
- Carneys Point Solar Installation Cost: $11,411
- 25-Year Savings: $13,806
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Carneys Point
Let’s take a look at the average cost of solar in Carneys Point.
The average cost of solar panels in Carneys Point is 4 per watt.To account for the typical energy needs of the average home in Carneys Point, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $11,411, or $16,318 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in Carneys Point for a custom estimate.
Solar savings over time in Carneys Point
| Year | Return on Investment |
|---|---|
| 1 years | $-9,913 |
| 3 years | $-6,917 |
| 5 years | $-3,920 |
| 7 years | $-924 |
| 9 years | $2,073 |
| 11 years | $5,069 |
| 13 years | $8,065 |
| 15 years | $11,062 |
| 17 years | $14,058 |
| 19 years | $17,054 |
| 21 years | $20,051 |
| 23 years | $23,047 |
| 25 years | $26,044 |
Top Solar Installers in Carneys Point
Many homeowners choose to use a solar installer since trying to install solar panels by yourself can be a lot of work. Plus, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that too. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you're looking for a solar installer in Carneys Point, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Carneys Point
Factors that Affect Solar Panel Costs in Carneys Point
For many Carneys Point homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Carneys Point, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Carneys Point average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Carneys Point, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.Though solar loans make going solar more accessible for Carneys Point 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 remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Carneys Point, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $14,153 | 13.0 years |
| 8 kW | $3.60 | $20,163 | $19,266 | 12.8 years |
| 10 kW | $3.53 | $24,710 | $24,576 | 12.5 years |
| 12 kW | $3.46 | $29,059 | $30,085 | 12.3 years |
| 14 kW | $3.39 | $33,210 | $35,791 | 12.0 years |
| 16 kW | $3.32 | $37,164 | $41,694 | 11.8 years |
| 18 kW | $3.25 | $40,920 | $47,796 | 11.5 years |
| 20 kW | $3.18 | $44,478 | $54,095 | 11.3 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: If you’re concerned about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the real 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 appealing choice, as it typically 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $985.73 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.