Solar Panel Cost Guide in Freehold, NJ (Oct 2022)

  • Freehold Solar Installation Cost: $8,764
  • 25-Year Savings: $7,419
  • Payback Period: 13.5 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in Freehold

Find out what the average cost of solar panel installation is in Freehold.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Freehold, the average cost of a solar system is $3 per watt. The average Freehold homeowner needs a 4.5-kilowatt system, which would cost about $8,764, or $6,485 after the federal solar tax credit of 30% is applied.

These figures are only averages, and the cost of going solar for you may differ based on factors unique to your home and what company you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Freehold can save about $14,000 on their energy bills over 20 years.

To see your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Freehold

Year Return on Investment
1 years $-8,117
3 years $-6,822
5 years $-5,528
7 years $-4,233
9 years $-2,938
11 years $-1,643
13 years $-349
15 years $946
17 years $2,241
19 years $3,535
21 years $4,830
23 years $6,125
25 years $7,419

Top Solar Installers in Freehold

Putting up solar panels yourself can be a time-consuming project, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and part replacements.

There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Freehold

Factors that Affect Solar Panel Costs in Freehold

For many Freehold homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Freehold, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment Size

The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size. Solar power systems that have higher efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,770. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much 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 Freehold to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.

Solar Panel Installation Company

The final major cost factor you should consider is the installer you choose. Given the booming popularity of sustainable energy solutions in Freehold, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger 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

Solar Incentives in Freehold

Name Successor Solar Incentive (SuSI) Program
Website Visit here
More Info Click here

Name Solar Energy Sales Tax Exemption
Incentive Amount 100% exemption
More Info Click here

Name Property Tax Exemption for Renewable Energy Systems
More Info Click here

Name Solar Renewable Energy Certificates (SRECs) Registration Program
Website Visit here
More Info Click here

Name NJ Clean Energy- Residential New Construction Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name Home Performance with ENERGY STAR Program
Website Visit here
More Info Click here

Name COOLAdvantage Program
Website Visit here
More Info Click here

Name NJ Clean Energy- WARMAdvantage Program (Electric and Gas)
Website Visit here
More Info Click here

Name New Jersey Renewable Energy Incentive Program (Sustainable Biopower)
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

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: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
  • Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
  • Contract: Review the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best Technology

The Green Panel

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Freehold, NJ Solar Cost FAQs

What is the average cost of installing solar panels in Freehold?

This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

Are solar panels free in Freehold?

You can't get solar panels for free in Freehold. 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.

How will solar panels impact my home value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Freehold is currently $396,024, which means you can expect about a value of about $16,237 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Freehold is a rewarding investment.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.

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