Solar Panel Cost Guide in Cinnaminson, NJ (2023 Update)
- Cinnaminson Solar Installation Cost: $8,937
- 25-Year Savings: $8,913
- Payback Period: 12.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cinnaminson
See how much it might cost to switch to solar power in Cinnaminson.
The average cost of solar panels in Cinnaminson is 2.77 per watt. The average solar panel system size in Cinnaminson is around 4.6 kilowatts, meaning a cost of about $8,939 for a solar installation, or $12,783 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Cinnaminson find going solar has a decent ROI.
To get a free estimate from a vetted solar company in Cinnaminson, you can click the button below.
Solar savings over time in Cinnaminson
| Year | Return on Investment |
|---|---|
| 1 years | $-8,878 |
| 3 years | $-8,759 |
| 5 years | $-8,640 |
| 7 years | $-8,521 |
| 9 years | $-8,402 |
| 11 years | $-8,283 |
| 13 years | $-8,164 |
| 15 years | $-8,045 |
| 17 years | $-7,926 |
| 19 years | $-7,807 |
| 21 years | $-7,688 |
| 23 years | $-7,569 |
| 25 years | $-7,450 |
Top Solar Installers in Cinnaminson
When making the switch to solar, many homeowners prefer to hire a solar installer since overseeing your solar installation yourself can be a challenging project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some nearby:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Cinnaminson
Factors that Affect Solar Panel Costs in Cinnaminson
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Cinnaminson: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Cinnaminson, one of the most important 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 determine by looking at past energy bills. Your overall cost can increase by around $2,770 for each additional kilowatt you need. 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 over time on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Cinnaminson average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Cinnaminson homeowners opt to finance their solar panel systems to make going solar more affordable. Although solar loans make switching to solar energy more accessible for Cinnaminson homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Cinnaminson, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater 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 discount can bring their pricing lower to compete with bigger 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 | $11,137 | 13.0 years |
| 8 kW | $2.83 | $15,822 | $15,160 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,337 | 12.5 years |
| 12 kW | $2.71 | $22,803 | $23,670 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $28,158 | 12.0 years |
| 16 kW | $2.60 | $29,163 | $32,801 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,600 | 11.5 years |
| 20 kW | $2.49 | $34,902 | $42,553 | 11.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should go with, since different companies provide different panels.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Cinnaminson, NJ Solar Cost FAQs
How much does it cost to install solar panels in Cinnaminson?
The average cost of solar panels in Cinnaminson 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 type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cinnaminson?
Solar panels aren't free in Cinnaminson, 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 help lower the cost.
Is switching to solar power worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for 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 install 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.
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.