Solar Panel Cost Guide in Cherry Hill Mall, NJ (Nov 2022)
- Cherry Hill Mall Solar Installation Cost: $9,036
- 25-Year Savings: $8,815
- Payback Period: 12.7 Years
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Updated 11/09/2022
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Average Cost of Solar Panels in Cherry Hill Mall
Find out what the average cost of solar panels are in Cherry Hill Mall.
In Cherry Hill Mall, solar panels cost about $3 per watt on average. The average solar panel system size in Cherry Hill Mall is around 4.7 kilowatts, meaning a cost of about $9,036 for a solar installation, or $6,687 after the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Cherry Hill Mall homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $15,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Cherry Hill Mall for a quote for your home.
Solar savings over time in Cherry Hill Mall
| Year | Return on Investment |
|---|---|
| 1 years | $-8,322 |
| 3 years | $-6,894 |
| 5 years | $-5,466 |
| 7 years | $-4,038 |
| 9 years | $-2,610 |
| 11 years | $-1,182 |
| 13 years | $247 |
| 15 years | $1,675 |
| 17 years | $3,103 |
| 19 years | $4,531 |
| 21 years | $5,959 |
| 23 years | $7,387 |
| 25 years | $8,815 |
Top Solar Installers in Cherry Hill Mall
Although it's possible to install solar panels on your own, it involves extra time and expertise. Because of that, the majority of homeowners choose to hire a solar panel installer. The expertise that solar companies provide can be valuable as well, especially if you don't quite know what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Cherry Hill Mall:
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 Cherry Hill Mall
Factors that Affect Solar Panel Costs in Cherry Hill Mall
While the average cost of solar panels in Cherry Hill Mall is $9,036, your final cost may differ. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the system you need is one of the largest factors that influences the overall cost of going solar. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The model of solar panels and equipment you want is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Cherry Hill Mall have solar loans, which reduce the initial cost of installing a solar system. However, the interest on solar loans also increases your overall costs, so it's important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Cherry Hill Mall is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that offer a range of services at different price points. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $10,892 | 13.2 years |
| 8 kW | $2.83 | $15,822 | $14,833 | 12.9 years |
| 10 kW | $2.77 | $19,390 | $18,929 | 12.7 years |
| 12 kW | $2.71 | $22,803 | $23,181 | 12.4 years |
| 14 kW | $2.66 | $26,060 | $27,587 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,148 | 11.9 years |
| 18 kW | $2.55 | $32,110 | $36,865 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $41,737 | 11.4 years |
How to Save on Solar Panels
There are a lot of companies available in Cherry Hill Mall, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should go with, since different companies have different panels.
- Contract: Read the contract terms closely to make sure you understand the total cost, project timeline incentives and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
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 Cherry Hill Mall, NJ Solar Cost FAQs
How much does it cost to install solar panels in Cherry Hill Mall?
The average cost of solar panels in Cherry Hill Mall 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 stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Cherry Hill Mall?
You can't get solar panels for free in Cherry Hill Mall. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Cherry Hill Mall have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid 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 long do solar panels last in Cherry Hill Mall?
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 opt to 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.
