Solar Panel Cost Guide in Egg Harbor City, NJ (2023 Update)
- Egg Harbor City Solar Installation Cost: $8,687
- 25-Year Savings: $14,074
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Egg Harbor City
We go over average solar pricing in Egg Harbor City.
The average cost of a solar system in Egg Harbor City is 2.77 per watt. The average Egg Harbor City homeowner needs a 4.5-kilowatt system, which would cost about $8,687 with the federal tax credit, or $12,422 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Egg Harbor City can save about $19,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Egg Harbor City
| Year | Return on Investment |
|---|---|
| 1 years | $-7,776 |
| 3 years | $-5,955 |
| 5 years | $-4,135 |
| 7 years | $-2,314 |
| 9 years | $-493 |
| 11 years | $1,328 |
| 13 years | $3,149 |
| 15 years | $4,970 |
| 17 years | $6,791 |
| 19 years | $8,611 |
| 21 years | $10,432 |
| 23 years | $12,253 |
| 25 years | $14,074 |
Top Solar Installers in Egg Harbor City
When switching to solar energy, many homeowners opt to hire a solar installation company since putting up solar panels yourself can be a difficult project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by offering warranties and repairs.
If you're looking for a solar installer in Egg Harbor City, 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 City
Factors that Affect Solar Panel Costs in Egg Harbor City
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Egg Harbor City: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The brand of solar panels and equipment you want is another factor that will largely impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Egg Harbor City, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more 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
The solar company you choose will influence 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, including:
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Make sure your solar panel 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.
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 City, NJ Solar Cost FAQs
How much does it cost to install solar panels in Egg Harbor City?
The average cost of solar panels in Egg Harbor City 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 things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Egg Harbor City?
You can't get solar panels for free in Egg Harbor City. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't go for 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 do I need to power my home?
To figure out how many solar panels 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 generally produce about 250 to 400 watt-hours per hour, the average home 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.