Solar Panel Cost Guide in Collingswood, NJ (Mar 2023)
- Collingswood Solar Installation Cost: $9,036
- 25-Year Savings: $8,815
- Payback Period: 12.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Collingswood
We go over average solar pricing in Collingswood.
Although the national average of solar panels is $2.66 per watt, solar panels in Collingswood typically cost about 2.77. Using this figure, a typical 4.7-kW system would cost about $9,036 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Collingswood can save around $15,000 on their energy bills over 20 years.
To receive a free estimate from a highly rated solar company in Collingswood, you can click the button below.
Solar savings over time in Collingswood
| 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 Collingswood
Installing solar panels yourself can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for your family.
If you're on the hunt for a solar company in Collingswood, the EcoWatch team has organized a list of our top suggestions here:
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 Collingswood
Factors that Affect Solar Panel Costs in Collingswood
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Collingswood: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you only 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 Collingswood to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. Even though solar loans make going solar more accessible for Collingswood homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Collingswood, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that has the products, warranties and services you want and also fit into your budget.
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
Since the brand of solar panels and the installer 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: Solar installers that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should choose, since different companies have 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
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 Collingswood, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Collingswood?
The average cost of solar panels in Collingswood 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 certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Collingswood?
Leasing solar panels can be an attractive choice, because it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Collingswood have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage 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.