Solar Panel Cost Guide in East Freehold, NJ (2023 Update)
- East Freehold Solar Installation Cost: $8,765
- 25-Year Savings: $7,419
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in East Freehold
Find out what the average cost of solar panels are in East Freehold.
The average cost of a solar panel system in East Freehold is 2.77 per watt. The average solar panel system size in East Freehold is around 4.5 kilowatts, meaning a cost of about $8,764 for a solar installation, or $12,533 before the 30% federal solar tax credit is applied.
The true price you pay can go above or below the average in East Freehold based on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, after you've paid the initial cost of installation, the savings for most homeowners is typically rewarding, with a net average savings of about $14,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar installer in your area for a custom estimate.
Solar savings over time in East Freehold
| Year | Return on Investment |
|---|---|
| 1 years | $-8,711 |
| 3 years | $-8,603 |
| 5 years | $-8,495 |
| 7 years | $-8,387 |
| 9 years | $-8,279 |
| 11 years | $-8,171 |
| 13 years | $-8,064 |
| 15 years | $-7,956 |
| 17 years | $-7,848 |
| 19 years | $-7,740 |
| 21 years | $-7,632 |
| 23 years | $-7,524 |
| 25 years | $-7,416 |
Top Solar Installers in East Freehold
When switching to solar energy, many homeowners prefer to go with a solar installation company since installing solar panels yourself can be a time-consuming project. Another upside of working with a solar installer is that they can help you optimize your investment by reducing your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you're looking for a solar company in East Freehold, 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 East Freehold
Factors that Affect Solar Panel Costs in East Freehold
There are many factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend around $2,770 per kilowatt in East Freehold. There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many East Freehold homeowners decide to finance their solar panel systems to offset upfront costs. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in East Freehold is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services at different costs. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $9,382 | 14.1 years |
| 8 kW | $2.83 | $15,822 | $12,819 | 13.8 years |
| 10 kW | $2.77 | $19,390 | $16,412 | 13.5 years |
| 12 kW | $2.71 | $22,803 | $20,160 | 13.3 years |
| 14 kW | $2.66 | $26,060 | $24,062 | 13.0 years |
| 16 kW | $2.60 | $29,163 | $28,120 | 12.7 years |
| 18 kW | $2.55 | $32,110 | $32,333 | 12.5 years |
| 20 kW | $2.49 | $34,902 | $36,702 | 12.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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 East Freehold, NJ Solar Cost FAQs
What is the average cost of installing solar panels in East Freehold?
The average cost of solar panels in East Freehold 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 such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does East Freehold have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How long do solar panels last in East Freehold?
On average, the lifespan of solar panels is 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 higher amount 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.