Solar Panel Cost Guide in Fredon, NJ (2023 Update)
- Fredon Solar Installation Cost: $9,327
- 25-Year Savings: $6,857
- Payback Period: 14.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fredon
Find out how much it might cost to install solar panels in Fredon.
The average cost of a solar panel system in Fredon is 2.77 per watt. The average solar panel system size in Fredon is around 4.8 kilowatts, meaning a cost of about $9,327 for a solar installation, or $13,338 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Fredon homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Fredon
| Year | Return on Investment |
|---|---|
| 1 years | $-8,679 |
| 3 years | $-7,385 |
| 5 years | $-6,090 |
| 7 years | $-4,795 |
| 9 years | $-3,500 |
| 11 years | $-2,206 |
| 13 years | $-911 |
| 15 years | $384 |
| 17 years | $1,678 |
| 19 years | $2,973 |
| 21 years | $4,268 |
| 23 years | $5,562 |
| 25 years | $6,857 |
Top Solar Installers in Fredon
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be hard. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers near you:
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 Fredon
Factors that Affect Solar Panel Costs in Fredon
There are many criteria that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar energy system you need for your home, 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 around $2,770. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Fredon average.
Solar Financing Terms
Many homeowners find the average cost of solar in Fredon to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to paying more over time due to interest. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating in Fredon, and each can charge varying amounts for labor and equipment. Companies that 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 fit into 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 | $2.88 | $12,099 | $8,108 | 15.0 years |
| 8 kW | $2.83 | $15,822 | $11,121 | 14.7 years |
| 10 kW | $2.77 | $19,390 | $14,289 | 14.4 years |
| 12 kW | $2.71 | $22,803 | $17,612 | 14.1 years |
| 14 kW | $2.66 | $26,060 | $21,090 | 13.8 years |
| 16 kW | $2.60 | $29,163 | $24,723 | 13.5 years |
| 18 kW | $2.55 | $32,110 | $28,512 | 13.2 years |
| 20 kW | $2.49 | $34,902 | $32,455 | 13.0 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 models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type 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: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Fredon, NJ Solar Cost FAQs
What is the average cost of installing solar panels in Fredon?
This is a difficult 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 more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Fredon, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Fredon?
On average, solar panels can last 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.