Solar Panel Cost Guide in Florence, NJ (2025 Update)
- Florence Solar Installation Cost: $11,389
- 25-Year Savings: $8,913
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Florence
Find out what the average cost of a solar system is in Florence.
Although the national average of solar panels is $2.66 per watt, solar panels in Florence generally cost around 4.To cover the typical energy usage of the average home in Florence, most homeowners require a 4.6-kilowatt system. Using the figure above, a solar installation costs around $11,389, or $16,286 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of equipment you choose, your solar contractor and more.With typical savings of about $15,000 on utility bills over 20 years, many homeowners in Florence find going solar can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Florence
| Year | Return on Investment |
|---|---|
| 1 years | $-9,967 |
| 3 years | $-7,122 |
| 5 years | $-4,278 |
| 7 years | $-1,433 |
| 9 years | $1,412 |
| 11 years | $4,257 |
| 13 years | $7,101 |
| 15 years | $9,946 |
| 17 years | $12,791 |
| 19 years | $15,636 |
| 21 years | $18,480 |
| 23 years | $21,325 |
| 25 years | $24,170 |
Top Solar Installers in Florence
Putting up solar panels on your own can be a stressful project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be valuable as well, particularly if you don’t quite know what type of solar equipment you need.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Florence
Factors that Affect Solar Panel Costs in Florence
For many Florence homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Florence, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need 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 $3,530.There are several different solar panel brands and the one you pick also affects the cost. Generally, the brands that are more efficient 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 much 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 many years, but they can also be a significant investment. That’s why many Florence homeowners decide to finance their solar panel systems to offset upfront costs.It’s a good idea to include 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 how long it’ll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can play a role in determining your pricing. Florence’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.67 | $15,419 | $7,817 | 16.6 years |
| 8 kW | $3.60 | $20,163 | $10,819 | 16.3 years |
| 10 kW | $3.53 | $24,710 | $14,017 | 16.0 years |
| 12 kW | $3.46 | $29,059 | $17,414 | 15.6 years |
| 14 kW | $3.39 | $33,210 | $21,008 | 15.3 years |
| 16 kW | $3.32 | $37,164 | $24,800 | 15.0 years |
| 18 kW | $3.25 | $40,920 | $28,790 | 14.7 years |
| 20 kW | $3.18 | $44,478 | $32,977 | 14.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
EcoWatch's Florence, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Florence?
The average cost of solar panels in Florence is about $17,650 for a 5-kW system and $35,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Florence?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Florence?
Each state has some form 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 utility bills.
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.