Solar Panel Cost Guide in Deptford, NJ (2024 Update)
- Deptford Solar Installation Cost: $11,485
- 25-Year Savings: $11,070
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Deptford
Let’s take a look at the average cost of solar panels in Deptford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Deptford, the typical cost of solar panels is 4 per watt.The average Deptford homeowner needs a 4.6-kilowatt system, which would cost about $11,485 with the federal tax credit, or $16,424 before the 0 tax credit is applied.
These figures are just estimates, and your own solar costs will most likely vary based on the amount of energy your home requires and what company you want to go with.For many homeowners, the upfront investment in solar panels is worth paying. On average Deptford homeowners see about $16,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Deptford
| Year | Return on Investment |
|---|---|
| 1 years | $-9,999 |
| 3 years | $-7,028 |
| 5 years | $-4,057 |
| 7 years | $-1,086 |
| 9 years | $1,885 |
| 11 years | $4,856 |
| 13 years | $7,827 |
| 15 years | $10,798 |
| 17 years | $13,770 |
| 19 years | $16,741 |
| 21 years | $19,712 |
| 23 years | $22,683 |
| 25 years | $25,654 |
Top Solar Installers in Deptford
Trying to put up solar panels yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- 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 Deptford
Factors that Affect Solar Panel Costs in Deptford
There are several factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive 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 greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you choose will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $10,505 | 14.9 years |
| 8 kW | $3.60 | $20,163 | $14,403 | 14.6 years |
| 10 kW | $3.53 | $24,710 | $18,498 | 14.3 years |
| 12 kW | $3.46 | $29,059 | $22,790 | 14.0 years |
| 14 kW | $3.39 | $33,210 | $27,280 | 13.7 years |
| 16 kW | $3.32 | $37,164 | $31,968 | 13.4 years |
| 18 kW | $3.25 | $40,920 | $36,854 | 13.2 years |
| 20 kW | $3.18 | $44,478 | $41,937 | 12.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you want to install plays a role in which company you should opt for, since different companies have different panels.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Deptford, NJ Solar Cost FAQs
How much does it cost to install solar panels in Deptford?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,650 for a 5-kW system and $35,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Deptford?
The majority of states have 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.
How many solar panels should I get to power 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.