Solar Panel Cost Guide in Dover, NJ (2023 Update)
- Dover Solar Installation Cost: $9,268
- 25-Year Savings: $7,740
- Payback Period: 13.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Dover
Find out what the average cost of solar panel installation is in Dover.
The national average cost of solar panels is $2.66 per watt, but in Dover it's 2.77 per watt. To cover the typical energy needs of the average home in Dover, most homeowners require a 4.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $9,268, or $13,253 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of installing solar panels can vary based on several factors, such as what size system you need, your energy consumption and what company you go with. But, after you've paid the initial cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $14,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Dover for a quote for your home.
Solar savings over time in Dover
| Year | Return on Investment |
|---|---|
| 1 years | $-8,588 |
| 3 years | $-7,227 |
| 5 years | $-5,867 |
| 7 years | $-4,506 |
| 9 years | $-3,145 |
| 11 years | $-1,785 |
| 13 years | $-424 |
| 15 years | $937 |
| 17 years | $2,297 |
| 19 years | $3,658 |
| 21 years | $5,019 |
| 23 years | $6,379 |
| 25 years | $7,740 |
Top Solar Installers in Dover
Although you can install solar panels yourself, it takes extra effort and expertise. Because of that, most people choose a solar panel installer. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your home.
If you're on the hunt for a solar installer in Dover, we've 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
See all of the solar companies in Dover
Factors that Affect Solar Panel Costs in Dover
While the average cost of a solar system in Dover is $9,268, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,770. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Dover average.
Solar Financing Terms
Many homeowners find the average cost of solar in Dover to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Dover is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that offer a range of services at different costs. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, 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 | $2.88 | $12,099 | $9,256 | 14.2 years |
| 8 kW | $2.83 | $15,822 | $12,652 | 13.9 years |
| 10 kW | $2.77 | $19,390 | $16,202 | 13.6 years |
| 12 kW | $2.71 | $22,803 | $19,908 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $23,769 | 13.1 years |
| 16 kW | $2.60 | $29,163 | $27,785 | 12.8 years |
| 18 kW | $2.55 | $32,110 | $31,957 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,283 | 12.3 years |
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project 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 Dover, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Dover?
The average cost of solar panels in Dover 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Dover?
A solar panel system isn't free in Dover, 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.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.