Solar Panel Cost Guide in Cherry Hill, NJ (2024 Update)

  • Cherry Hill Solar Installation Cost: $11,511
  • 25-Year Savings: $9,800
  • Payback Period: 15.3 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Cherry Hill

We break down average solar pricing in Cherry Hill.

While the national average of solar panels is $2.66 per watt, solar panels in Cherry Hill generally cost around 4.The average solar panel system size in Cherry Hill is around 4.7 kilowatts, meaning a cost of about $11,511 for a solar installation, or $16,461 before the 0 federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.With average savings of about $15,000 on energy bills over 20 years, many homeowners in Cherry Hill find going solar can be quite rewarding.

To receive a free estimate from a pre-vetted solar company in Cherry Hill, you can click the button below.

Solar savings over time in Cherry Hill

Year Return on Investment
1 years $-10,069
3 years $-7,187
5 years $-4,304
7 years $-1,421
9 years $1,461
11 years $4,344
13 years $7,227
15 years $10,109
17 years $12,992
19 years $15,875
21 years $18,757
23 years $21,640
25 years $24,522

Top Solar Installers in Cherry Hill

Installing solar panels by yourself can be a time-consuming undertaking, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.

There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Cherry Hill

Factors that Affect Solar Panel Costs in Cherry Hill

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Cherry Hill: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $3,530 per kilowatt in Cherry Hill.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar installers in Cherry Hill have solar loans, which reduce your upfront costs of installing solar panels.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.

Solar Panel Installation Company

The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Cherry Hill, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The size of the company can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater resources and better 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 $8,838 15.9 years
8 kW $3.60 $20,163 $12,179 15.6 years
10 kW $3.53 $24,710 $15,718 15.3 years
12 kW $3.46 $29,059 $19,454 15.0 years
14 kW $3.39 $33,210 $23,388 14.7 years
16 kW $3.32 $37,164 $27,520 14.4 years
18 kW $3.25 $40,920 $31,850 14.1 years
20 kW $3.18 $44,478 $36,377 13.8 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose considerably influences your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Contract: It’s important to read through your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
  • Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
  • 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 significant role in the company you choose.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Cherry Hill, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Cherry Hill?

The average cost of solar panels in Cherry Hill is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.

Are solar panels free in Cherry Hill?

Solar panels aren’t free in Cherry Hill, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

How much can I save on energy bills after switching to solar?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Cherry Hill, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How long do solar panels last in Cherry Hill?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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