Solar Panel Cost Guide in Carteret, NJ (2025 Update)
- Carteret Solar Installation Cost: $11,564
- 25-Year Savings: $8,776
- Payback Period: 16.2 Years
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Average Cost of Solar Panels in Carteret
We break down average solar pricing in Carteret.
Although the national average of solar panels is $2.66 per watt, solar panels in Carteret generally cost around 4.The average solar panel system size in Carteret is around 4.7 kilowatts, meaning a cost of about $11,564 for a solar installation, or $16,537 before the 0 federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Carteret depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Carteret see about $14,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Carteret that can help you get a more accurate cost estimate for your home.
Solar savings over time in Carteret
| Year | Return on Investment |
|---|---|
| 1 years | $-10,142 |
| 3 years | $-7,297 |
| 5 years | $-4,452 |
| 7 years | $-1,608 |
| 9 years | $1,237 |
| 11 years | $4,082 |
| 13 years | $6,927 |
| 15 years | $9,771 |
| 17 years | $12,616 |
| 19 years | $15,461 |
| 21 years | $18,306 |
| 23 years | $21,150 |
| 25 years | $23,995 |
Top Solar Installers in Carteret
Many homeowners opt for a solar installation company since installing solar panels on your own can be challenging. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Carteret
Factors that Affect Solar Panel Costs in Carteret
There are many criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Carteret, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $3,530 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much 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 Carteret to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact how much you pay. Carteret’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the installation 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 can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $7,466 | 16.8 years |
| 8 kW | $3.60 | $20,163 | $10,350 | 16.5 years |
| 10 kW | $3.53 | $24,710 | $13,432 | 16.2 years |
| 12 kW | $3.46 | $29,059 | $16,711 | 15.9 years |
| 14 kW | $3.39 | $33,210 | $20,188 | 15.5 years |
| 16 kW | $3.32 | $37,164 | $23,863 | 15.2 years |
| 18 kW | $3.25 | $40,920 | $27,736 | 14.9 years |
| 20 kW | $3.18 | $44,478 | $31,806 | 14.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Reputation: Make sure your solar company 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.
EcoWatch's Carteret, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Carteret?
The average cost of solar panels in Carteret 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 stuff such as 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 Carteret?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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 get the most savings.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Carteret is currently $460,297, which means you can expect a value of about $18,872 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Carteret is a fruitful investment.
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 how much 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.