Solar Panel Cost Guide in Deptford, NJ (2023 Update)
- Deptford Solar Installation Cost: $9,012
- 25-Year Savings: $11,070
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Deptford
Let's take a look at the average cost of solar in Deptford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Deptford, the average cost of solar panels is 2.77 per watt. Because a 4.7-kW system is needed to cover the energy usage of a typical home in Deptford, the average price of going solar will be about $9,016 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of installing solar panels can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Deptford see about $16,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in Deptford for a personalized estimate.
Solar savings over time in Deptford
| Year | Return on Investment |
|---|---|
| 1 years | $-7,527 |
| 3 years | $-4,556 |
| 5 years | $-1,584 |
| 7 years | $1,387 |
| 9 years | $4,358 |
| 11 years | $7,329 |
| 13 years | $10,300 |
| 15 years | $13,271 |
| 17 years | $16,242 |
| 19 years | $19,213 |
| 21 years | $22,184 |
| 23 years | $25,156 |
| 25 years | $28,127 |
Top Solar Installers in Deptford
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be time-consuming. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers in Deptford:
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 Deptford
Factors that Affect Solar Panel Costs in Deptford
The cost of installing a solar system in Deptford can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,770. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far 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 Deptford to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. Although solar loans make adopting solar energy more accessible for Deptford homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The company's size sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $2.88 | $12,099 | $13,825 | 11.7 years |
| 8 kW | $2.83 | $15,822 | $18,744 | 11.4 years |
| 10 kW | $2.77 | $19,390 | $23,818 | 11.2 years |
| 12 kW | $2.71 | $22,803 | $29,046 | 11.0 years |
| 14 kW | $2.66 | $26,060 | $34,430 | 10.8 years |
| 16 kW | $2.60 | $29,163 | $39,970 | 10.5 years |
| 18 kW | $2.55 | $32,110 | $45,664 | 10.3 years |
| 20 kW | $2.49 | $34,902 | $51,513 | 10.1 years |
How to Save on Solar Panels
The solar installer you choose will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which installer you should opt for, since different companies provide different panels.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project completion timeline.
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 Deptford, NJ Solar Cost FAQs
How much does it cost to install solar panels in Deptford?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $13,850 for a 5-kW system and $27,700 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Deptford?
Solar panels aren't free in Deptford, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Deptford is currently $213,726, which means you can look forward to a value of about $8,763 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Deptford is a rewarding 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 the average daily 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 install between 20 and 35 panels to cover 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.