Solar Panel Cost Guide in Egg Harbor, NJ (2023 Update)
- Egg Harbor Solar Installation Cost: $8,682
- 25-Year Savings: $14,078
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Egg Harbor
We break down average solar pricing in Egg Harbor.
The national average cost of solar panels is $2.66 per watt, but in Egg Harbor it's 2.77 per watt. To account for the typical energy usage of the average home in Egg Harbor, most homeowners require a 4.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $8,687, or $12,422 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy usage and what company you go with. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Egg Harbor see about $19,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Egg Harbor
| Year | Return on Investment |
|---|---|
| 1 years | $-8,606 |
| 3 years | $-8,455 |
| 5 years | $-8,303 |
| 7 years | $-8,151 |
| 9 years | $-7,999 |
| 11 years | $-7,848 |
| 13 years | $-7,696 |
| 15 years | $-7,544 |
| 17 years | $-7,393 |
| 19 years | $-7,241 |
| 21 years | $-7,089 |
| 23 years | $-6,937 |
| 25 years | $-6,786 |
Top Solar Installers in Egg Harbor
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make swapping over to solar power much easier. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're looking for a solar installer in Egg Harbor, 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 Egg Harbor
Factors that Affect Solar Panel Costs in Egg Harbor
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Egg Harbor: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 about $2,770. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install 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
Many homeowners find the average cost of solar in Egg Harbor to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Egg Harbor, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater 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 down 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 | $18,399 | 9.9 years |
| 8 kW | $2.83 | $15,822 | $24,842 | 9.7 years |
| 10 kW | $2.77 | $19,390 | $31,441 | 9.5 years |
| 12 kW | $2.71 | $22,803 | $38,194 | 9.3 years |
| 14 kW | $2.66 | $26,060 | $45,103 | 9.2 years |
| 16 kW | $2.60 | $29,163 | $52,166 | 9.0 years |
| 18 kW | $2.55 | $32,110 | $59,385 | 8.8 years |
| 20 kW | $2.49 | $34,902 | $66,759 | 8.6 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Egg Harbor, NJ Solar Cost FAQs
How much does it cost to install solar panels in Egg Harbor?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is it worth going solar in Egg Harbor?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.