Solar Panel Cost Guide in Deptford, NJ (Mar 2023)
- Deptford Solar Installation Cost: $9,016
- 25-Year Savings: $11,066
- Payback Period: 11.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Deptford
Find out how much it might cost to make the switch to 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. The average Deptford homeowner needs a 4.7-kilowatt system, which would cost about $9,016 with the federal tax credit, or $12,893 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The exact cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar company in Deptford that can help you get a more accurate cost estimate for your home.
Solar savings over time in Deptford
| Year | Return on Investment |
|---|---|
| 1 years | $-8,213 |
| 3 years | $-6,606 |
| 5 years | $-5,000 |
| 7 years | $-3,393 |
| 9 years | $-1,787 |
| 11 years | $-180 |
| 13 years | $1,427 |
| 15 years | $3,033 |
| 17 years | $4,640 |
| 19 years | $6,246 |
| 21 years | $7,853 |
| 23 years | $9,460 |
| 25 years | $11,066 |
Top Solar Installers in Deptford
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using a solar company can make your swap to solar power much easier. The expertise that solar installers offer can be useful as well, particularly if you aren't sure what type of solar equipment you need.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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 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 is dependent on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,770. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Deptford average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are offered by most installers in Deptford, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Deptford's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should opt for, since different companies have different panels.
- Contract: Before signing a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed 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 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 Deptford, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Deptford?
The average cost of solar panels in Deptford is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Deptford, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Deptford?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.