Solar Panel Cost Guide in Freehold, NJ (2024 Update)
- Freehold Solar Installation Cost: $11,170
- 25-Year Savings: $7,419
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Freehold
See how much it might cost to switch to solar power in Freehold.
Although the national average of solar panels is $2.66 per watt, solar panels in Freehold typically cost about 4.The average Freehold homeowner needs a 4.5-kilowatt system, which would cost about $11,170 with the federal tax credit, or $15,973 before the 0 tax credit is applied.
The actual price you pay can be higher or lower than the average in Freehold based on several factors, such as the model of solar panels you choose and the solar installer you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $14,000 over 20 years on energy bills.
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 Freehold
| Year | Return on Investment |
|---|---|
| 1 years | $-10,111 |
| 3 years | $-7,992 |
| 5 years | $-5,874 |
| 7 years | $-3,755 |
| 9 years | $-1,637 |
| 11 years | $481 |
| 13 years | $2,600 |
| 15 years | $4,718 |
| 17 years | $6,837 |
| 19 years | $8,955 |
| 21 years | $11,073 |
| 23 years | $13,192 |
| 25 years | $15,310 |
Top Solar Installers in Freehold
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make converting to solar power much easier. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Freehold
Factors that Affect Solar Panel Costs in Freehold
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,530 per kilowatt in Freehold.The type of solar equipment you choose can increase or decrease your cost 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, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Freehold average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Freehold, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the booming popularity of green energy solutions in Freehold, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $6,062 | 17.9 years |
| 8 kW | $3.60 | $20,163 | $8,478 | 17.6 years |
| 10 kW | $3.53 | $24,710 | $11,092 | 17.3 years |
| 12 kW | $3.46 | $29,059 | $13,903 | 16.9 years |
| 14 kW | $3.39 | $33,210 | $16,912 | 16.6 years |
| 16 kW | $3.32 | $37,164 | $20,119 | 16.2 years |
| 18 kW | $3.25 | $40,920 | $23,524 | 15.9 years |
| 20 kW | $3.18 | $44,478 | $27,126 | 15.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installer 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:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Installation Process: When making the switch to solar energy, it’s essential to maintain an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the completion timeline.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should opt for, since different companies offer different panels.
- Contract: Before signing a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Freehold, NJ Solar Cost FAQs
How much does it cost to install solar panels in Freehold?
The average cost of solar panels in Freehold 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $716.04 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.